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Romania To Sell Down 9.8% In Petrom

Romania is selling around a 9.8% stake in oil and gas group, Petrom.

    Romania is selling around a 9.8% stake in oil and gas group, Petrom,Reutersreports. The sale is a part of the government plan to raise $960 million on the Bucharest bourse by the end of 2011.

    Renaissance Capital,EFG证券,BT SecuritiesandRomcapitalare the lead managers for the sale. The Romanian government holds a 21% stake in Petrom, while the remaining stake is held by Austria’sOMV.

    Click here for the story fromReuters.

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