Gazprom in negotiations to buy 25 pct stake of Petrom’s owner

Newsroom 27/06/2014 | 12:59

Gazprom is currently in negotiations to buy a 24.9 percent stake in OMV, who owns Petrom. The Russian gaz producer is currently in talks with the IPIC fund from Abu Dhabi to buy their stake in the Austrian company, according to sources quoted by Reuters.

Buying the stake would give state-controlled Gazprom a beachhead in the European Union, which has serious issues with its planned gas pipeline through central Europe to Austria and has imposed sanctions over Russia’s annexation of Crimea.

“Talks were held but they have yet to decide on pricing,” the source said.

Gazprom and IPIC declined to comment, while OMV referred questions to its major shareholders.

On July 23rd 2004, the Ministry of Economy and Commerce (MEC) and OMV signed the privatization contract whereby OMV acquired 51% stake in OMV Petrom through a combination of a direct purchase of 33.34% (EUR 669 mn) and a simultaneous capital increase in OMV Petrom (EUR 831mn). On December 7th, OMV paid EUR 1.5 bn. for 51% of OMV Petrom share capital and on December 14th the closing of the Privatization Agreement took place. Thus, OMV became the majority shareholder

Petrom shareholder structure
– 51.01 percent OMV AG (OMV Aktiengesellschaft)
– 20.64 percent Ministry of Economy
– 18.99 percent Fondul Proprietatea S.A. (fund managing different stakes in Romanian companies, created by Romanian state in order to compensate the persons who suffered from the nationalization of their assets during the communist regime)
– 9.36 percent Free float.

OMV shareholder structure
– 31.5 percent ÖIAG
– 24.9 percent IPIC
– 0.3 percent Own Shares
– 43.3 percent Free float

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