Romania’s AVAS May Hike Stake In Oil Co Petrom

Romanian privatization authority AVAS might increase its stake in oil company Petrom (SNP.RO) to at least 25%, by transferring a stake from Romanian investment fund Fondul Proprietatea, in order to benefit from a firmer position in the decision-making process.

1 view

Last summer, AVAS lowered its stake in Petrom from 30.8% to 20.64%, by raising Fondul Proprietatea’s stake.

Petrom is the largest corporation in Romania and the largest gas and oil producer in southeastern Europe. In December 2004, Petrom was privatized and became a part of OMV AG (OMV.VI), which is the majority shareholder.

The other shareholders of Petrom are AVAS, with 20.63% of the shares, Fondul Proprietatea, with 20.11% and EBRD with 2.01% of the shares. Minor shareholders own 6.21% of the shares.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.