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Eight percent of Petrom to go directly to employees

Vineri, 28 aprilie 2006, 0:00

The Romanian Economy Ministry has concluded drafting a governmental decision to regulate the sale of the remaining 8% of Romania’s biggest oil company Petrom, currently controlled by OMV. According to the draft decision, the 8% of Petrom shares will go directly to employees, avoiding the controversial version of selling the stake to the Employee’s Association.

According to Economy minister Codrut Seres, the draft is due to be sent for approval at other responsible ministries.. He said that the Government should approve the project shortly after May 1 in order to hurry up the procedures.

The 8% package will be sold to employees at the price paid by the OMV group when it bought the Romanian company – 5,25 euro/share, rising the stake of Petrom employees to 235 million euro.

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