Romania To Sell 15% In Romgaz By End-June 2012
The Romanian Economy Ministry will sell a 15% stake in natural gas producer Romgaz by end-June 2012, according to the government’s latest letter of intent to a EUR3.5 billion loan agreement with the International Monetary Fund.
The ministry owns 85.01% in Romgaz.
Brokerage firms that want to run the initial public offering in Bucharest are expected to present their bids to the ministry by December 29.
Under its loan agreement with the IMF, Romania has pledged to sell minority stakes of 10% to 15% in key energy and gas producers, including Romgaz, Nuclearelectrica, Transelectrica, Transgaz and Hidroelectrica.
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