Fondul Proprietatea sells 4% stake in oil and gas group OMV Petrom
Fondul Proprietatea (FP) sold 2.275 bln shares, or 4% of OMV Petrom, for RON 978.25 mln (nearly EUR 200 mln) under the accelerated private placement offer started on January 19, according to a report sent to the Bucharest Stock Exchange (BVB).
Following the deal, FP is left with a 3% stake in OMV Petrom.
The sale price was set at RON 0.43 per share, 8.5% below the closing price the day before the private placement.
In September 2020, Fondul Proprietatea sold a 3% stake in Petrom for RON 561 mln.
The gross proceeds of the January 20 transaction will be used to implement the Fund’s Discount Control Mechanism by funding the buyback programme, as approved by the Fund’s shareholders, and the payment of potential dividends to the Fund’s shareholders, in the absence of exceptional market conditions or circumstances, and subject to any restrictions under Romanian legal or tax regulations and shareholders’ approval.
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