Romania Picks Petrom Stake Sale Advisers

Romania has selected a group of advisers to help with the sale of oil and gas company, Petrom.

Romania has selected a group of advisers to help with the sale of oil and gas company, Petrom, Reuters reports. The government is expected to receive more than €500 million from the sale.

The adviser consortium on the secondary public offering of shares is made up of Renaissance Capital, EFG Eurobank Securities, BT Securities and Romcapital. Romania owns a 21% stake in Petrom, which is majority controlled by Austria’s OMV, and is seeking to sell around 9.8% of stake.

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