24.8 C
May 16, 2022

Three consortia interested to broker Romgaz listing on BVB

Three consortia including the large financial groups JP Morgan, Goldman Sachs and Citibank and brokerage firms yesterday submitted to the Office for State Ownership and Privatization in Industry (OPSPI) offers for the listing on the Bucharest Stock Exchange (BVB) of national gas operator Romgaz, Mediafax reports. One consortium is made up of Goldman Sachs, Erste, BCR, Raiffeisen Capital&Investment and Intercapital Invest, as subcontractor, given the company has participated before, along with BCR, in the Transelectrica offer, and the tender book stipulated certain restrictions. A second offer was tendered by a consortium consisting of JP Morgan – UniCredit CAIB – Alpha Finance – Alpha Bank-BT Securities, and the third, by Citibank – Societe Generale – BRD and ING Bank. January 16, 10.00 was the deadline for submitting offers for the sale of a 15 pc stake in Romgaz.

According to the Letter of Intention agreed by Romania’s Government and the International Monetary Fund at the latest negotiations last autumn, the Romgaz listing proceedings on the BVB will have been concluded by late June of this year. The Romgaz Initial Public Offering, the largest ever put on the BVB, could bring the Romanian state nearly 300 M euro.

Related posts

INS: Construction sector activity to drop until end of 2010


Vass: I did not want to pose “a gratuitous problem” to the new government

Nine O' Clock

Senate: Private management for state companies can be partial

Nine O' Clock