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Romania Plans $718M Petrom Stake Sale

Romania is seeking to sell a stake in its oil and gas company Petrom.

    Romania is seeking to sell a stake in its oil and gas companyPetrom,Reutersreports. The government may sell the 9.8% stake, which is estimated to fetch about $718 million, by the end of July 2011.

    The sale is part of the government’s plan to raise about $971 million.Renaissance Capital,EFG Eurobank Securities,BT SecuritiesandRomcapitalare advising Romania on the share sale.

    Click here for the story fromReuters.

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