Romania Sells Stake in Petrom

Businessn.a. ♦ Published: December 7, 2010; 22:30 ♦ (Vindobona)

The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.

Romania Sells Stake in Petrom / Picture: © OMV AG

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…