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Economic

Banking Giants Bid To Broker Romanian Romgaz IPO

Three consortia including large financial groups - JP Morgan, Goldman Sachs and Citibank - as well as local brokerage firms, Monday filed bids to broker the listing of gas producer Romgaz, Romania’s largest initial public offering so far.

Andrei Cîrchelan · 16 ianuarie 2012 · 1 min de citit

The first consortium comprises Goldman Sachs, Austria’s Erste Bank AG and its Romanian subsidiary BCR, Raiffeisen Capital&Investment and Intercapital Invest.

A second consortium comprises JP Morgan, UniCredit CAIB, Alpha Finance and Alpha Bank, while the third one is made of Citibank, France’s Societe Generale, together with its Romanian unit BRD, and Dutch-based ING Bank.

Romania owns 85.01% in Romgaz and plans to list a 15% stake in Bucharest by the end of June.

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