Franklin Templeton International Services, in its capacity of sole director of Fondul Proprietatea (FP), announced in a note to investors the launch of an accelerated bookbuild offering of FP’s entire holding, representing 1,777,067,726 ordinary shares held in OMV Petrom.

The stake accounts for 2.85% of OMV Petrom, worth RON 825 mln (EUR 165 mln).

Erste Group Bank AG and SSIF Swiss Capital S.A. will act as Joint Global Coordinators and Joint Bookrunners, and Banca Comercială Română and Auerbach Grayson and Company will act as Joint Bookrunners for the transaction.

Subject to the placement of all Petrom shares in the accelerated bookbuild offering, the Fund will no longer hold shares in Petrom following the settlement of the transaction.

The transaction results will be announced as soon as practicable after the close of the bookbuild process. The timing for the closing of the bookbuild process, pricing and allocations are at the absolute discretion of the Fund and the Bookrunners.

andrei@romania-insider.com

(Photo source: Flickr/OMV Petrom)