EXCLUSIVE: Romania Seeks To Raise EUR1B By Selling Stakes In OMV Petrom, Pwr Cos

According to a document obtained by MEDIAFAX, the executive estimates total earnings of 2.43 billion lei (EUR1=RON) from the sale of a 12.64% stake in OMV Petrom on the Bucharest bourse. Romania owns a total stake of 20.64% in the oil company, which is controlled by Austria's OMV.

On Thursday, OMV Petrom shares closed up 0.83% on the day at RON0.353.

The Romanian authorities also plan to sell 15% in power-grid operator Transelectrica for RON219.9 million. The Economy Ministry owns 73.68% in the energy company.

A similar stake in natural gas pipeline operator Transgaz is expected to bring the government RON440.2 million, the document noted. The ministry owns 73.51% in Transgaz.

According to the document, the government also wants to sell 7.72% of pipeline operator Conpet (COTE.RO) and 8.62% in Oil Terminal (OIL.RO) for a total sum of around RON35.3 million.

The shares will be traded on the Bucharest Stock Exchange in approximately three months' time after the government approves the deals.

Moreover, the executive is considering selling additional minority stakes in companies that are not yet listed on the bourse. The list includes natural gas producer Romgaz, GDF SUEZ Energy Romania, Distrigaz Sud Retele, E.ON Gaz Romania and E.ON Gaz Distributie, as well as three subsidiaries of Italy's Enel group.

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