Petrom strategy next week

Petrom’s privatisation strategy, initially supposed to be discussed by June 30, will be debated and endorsed by the Government during its session next week. Economy and Trade minister Dan Ioan Popescu favours the direct sale of shares (33%) along with a capital inflow. “In my position as a minister I am in favour of privatising Petrom by the sale of a stake, followed by a capital inflow to lead to the takeover of 51% in the company,” Dan Ioan Popescu on Tuesday said. Two privatisation options will reach the Government’s desk: the direct sale of 51% in Petrom, favoured by the IMF, and the direct sale of 33% followed by a capital inflow from the strategic investor so that it could come to hold 51% in the increased share capital, an option favoured by the ministry, by the consultant and by the World Bank. ZF