Gov’t to sell shares owned in Petrom, Transgaz, Transelectrica and Romgaz

The government on Wednesday decided to sell part of its shares owned in Petrom, Transgaz, Transelectrica and Romgaz companies, according to an announcement made by the Minister of Economy, Adriean Videanu.

According to the Minister, the state would sell 9.84 percent of the Petrom shares, following to remain with a 10.8 percent stake, which means it will keep the „status of significant shareholder” in the oil company controlled by the Austrian group OMV. Moreover, the state will sell 15 percent of its shares owned in Transgaz and Transelectrica, but remaining majority shareholder, Videanu mentioned.

Moreover, the Government decided to list the shares of Romgaz, by selling a package of 15 percent of the company’s shares. Minister Videanu has avoided to mention how much money will the state obtain after selling its shares owned in the respective companies, but specified that Romania will make profit from selling them, with these shares being of great interest for the large investment fund, it will make the capital market more dynamic and it will stimulate the flow of foreign capital in Romania.

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