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Financial company SIF Oltenia sells 5.5% stake in Petrom Aviation for 2.47m lei

One of the five financial companies in Romania, SIF Oltenia (SIF5) sold its 5.5 percent stake in Petrom Aviation (ROFU) which trades aviation oil, for 2.47 million lei through the public takeover offering initiated by the largest company in Romania, Petrom.

SIF Oltenia sold 10.19 million shares at 0.2430 lei each.

Petrom launched on December 16 the public offering to takeover Petrom Aviation, planning to buy the 30.62 percent of the company shares it did not control. The offer ends on February 5.

Petrom increased its stake in Petrom Aviation at the beginning of October 2008 when it purchased from the employees' association 20.87 percent of shares, for 9.4 million lei, becoming the majority shareholder of the company with a 69.37 percent slice.

Petrom Aviation sells oil aviation products to airlines operating on Romania's airports. Last year, its turnover reached 154 million lei, at a market share of 30 percent.

Shares are listed on the Rasdaq over-the-counter market. Petrom Aviation has a share capital of 18.53 million lei, divided into 185.29 million shares at a face value of 0.10 lei. The company's capitalization stands at 44.65 million lei, corresponding to a trading price of 0.2410 lei today at closing.

 

Sursa: http://www.newsin.ro

Tags: petrom aviation million percent shares company oltenia stake sif

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