Romania’s Economy ministry signed the contract with the Renaissance Russians who won the mediation of the sales offer of 9.84% of OMV Petrom
The financial offer submitted by the selected group represented 0.325% of the total sum resulting from the value of shares in a secondary public offer. Renaissance is a Russian investment bank, BT Securities is the brokerage division of Transilvania Bank and EFG Securities is the brokerage division of EFG group. At an estimated transaction of over 500 million euro, the success commission is about 1.6 million euro, way below market estimates at 4-5 million euro. Romania’s Economy ministry owns 20.6% of OMV Petrom.