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EXCLUSIVE: Romania Delays Romgaz Floating Until 1H 2012

The Romanian Government has delayed until the spring of 2012 the sale of a 15% stake in natural gas producer Romgaz Medias, according to the country’s draft letter of intent agreed with the International Monetary Fund.
EXCLUSIVE: Romania Delays Romgaz Floating Until 1H 2012
Oana Gavrila
11 feb. 2011, 10:34, English

Previously, the Government estimated Romgaz would be listed on the Bucharest bourse by December 2011.

The document, obtained by MEDIAFAX, stipulates the Government also plans to sell a 10% stake in dominant oil company OMV Petrom (SNP.RO) and a 15% stake in each of the companies Transgaz (TGN.RO) and Transelectrica (TEL.RO) by the end of this year.

The Economy Ministry owns 20.6% in OMV Petrom, 85% in Romgaz and around 74% in both Transelectrica and Transgaz.