Funds managed by Dutch group NN reach 5% stake in OMV Petrom

Dutch asset management group has reached a stake of 5.03% in Romania's biggest energy company - OMV Petrom (SNP), according to a report on the Bucharest Stock Exchange.

According to the notification, several funds managed by NN Group's local and international divisions currently hold 2.85 billion OMV Petrom shares, worth RON 1.1 billion (EUR 227 million).

The biggest stake - 4.34% - belongs to NN's mandatory pension fund in Romania, the biggest such fund on the market. The remaining shares are split among funds managed by NN Asigurari de Viata and NN Investment Partners.

The Dutch group is now the fourth-biggest shareholder of OMV Petrom.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian state owns 20.639% of the company's shares, and investment fund Fondul Proprietatea holds just under 7%.

OMV Petrom is the most valuable listed company in Romania, with a market capitalization of close to RON 22 bln (EUR 4.5 bln).

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