SIF Transilvania sells 4.7% in Petromidia

SIF Transilvania has sold all the shares it still retained in the oil company Rompetrol Rafinare (Petromidia) for 453bn ROL (11 million euros). The stake sold on the Bucharest Stock Exchange on Friday accounts for 4.7% in Rompetrol Rafinare and was acquired by a foreign investor. Sources close to the deal told Ziarul Financiar that the stake was acquired by a foreign investor via a custodian bank, which acquired the shares for the investor’s account. The broker in the deal was BCR Securities, BCR’s brokerage firm, sources said. One of the investors that showed interest in a possible acquisition of Rompetrol stock is Hungarian petroleum company MOL, which wants to boost its market share in Romania. MOL’s strategy director told Reuters last Wednesday that Rompetrol, Petromidia’s parent group, could be of interest in terms of an acquisition, but added it was too soon to tell because he did not know the agreements between OMV and the majority shareholder. OMV holds 25.1% in Rompetrol and might be required by the Competition Council to sell upon completion of the Petrom deal. ZF