Romania Sells Stake in Petrom
The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.
The State of Romania wants to reduce its stake in Petrom, a OMV subsidiary, from the current 20% to 10%. The shares are to be sold before April 2011 over the Stock Exchange. OMV is planning to increase its current 51% stake by means of the privatization. But there is no need for any immediate action, according to OMV.
The value of the Petrom share for sale is € 426m. This…