Romania’s SIF Oltenia Sells Stake in OMV Petrom for $2.7 Million

SIF Oltenia SA (SIF5), a Romanian investment fund, said it sold about 23.9 million shares in OMV Petrom SA (SNP) for 9.4 million lei ($2.7 million), according to a statement sent to the Bucharest Stock Exchange today.

The fund, known as SIF5, sold the shares in Romania’s biggest oil company at an average price of 0.395 lei per share, it said in the statement.

The European Bank for Reconstruction and Development said on Nov. 28 that it sold 229 million shares in Petrom.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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