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Romania Sells Largest Oil Company Petrom to OMV
BUCHAREST, Romania -- The government and Central Europe’s leading oil and gas group, OMV, signed a contract Friday (23 July) on the sale of a 33.34 per cent stake in Romania’s largest company, Petrom. The deal will proceed simultaneously with an increase in Petrom’s capital; the new shares will be subscribed to entirely by OMV, bringing its stake to 51 per cent. The Austrian investor is paying between 1.3 billion euros and 1.5 billion euros to take over the majority share. Prime Minister Adrian Nastase says he is very satisfied with the price the government will receive. (Rompres, Mediafax - 23/07/04)
BUCHAREST, Romania -- The government and Central Europe’s leading oil and gas group, OMV, signed a contract Friday (23 July) on the sale of a 33.34 per cent stake in Romania’s largest company, Petrom. The deal will proceed simultaneously with an increase in Petrom’s capital; the new shares will be subscribed to entirely by OMV, bringing its stake to 51 per cent. The Austrian investor is paying between 1.3 billion euros and 1.5 billion euros to take over the majority share. Prime Minister Adrian Nastase says he is very satisfied with the price the government will receive. (Rompres, Mediafax - 23/07/04)