The largest investment fund in Romania, Fondul Proprietatea (BVB: FP), announced that it managed to cash its entire 2.85% stake in OMV Petrom (BVB: SNP) during the accelerated procedure initiated on December 13.

The price was 6.5% below the pre-deal market price, namely RON 0.43 per share – and consequently, the price of the entire stake was RON 764 mln (EUR 150 mln), Wall-street.ro reported.

The revenues will be either distributed as dividends or used in buy-back operations, both alternatives being designated under the framework of the policy aimed at consolidating FP’s shares.

Erste Group Bank AG and SSIF Swiss Capital SA acted as Joint Global Coordinators and Joint Bookrunners, and Banca Comercială Română SA and Auerbach Grayson and Company LLC acted as Joint Bookrunners in the transaction.

andrei@romania-insider.com

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