Romania’s Economy Ministery To Select Broker For Petrom Stake Sell By Mid-Sept

Romanian Economy Minister Adriean Videanu announced today that, in order to sell nearly 10% in leading oil company OMV Petrom (SNP.RO), a broker will be selected by mid-September. The transaction should be completed by year-end.

 

Videanu said the ministry plans to pitch in to a EUR600 million share capital increase at OMV Petrom, but only after it sells part of its 20.64% stake in the oil company.

 

Petrom, majority owned by Austria's OMV AG (OMV.VI), is the largest gas and oil producer in southeast Europe.