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Romania’s Economy ministry signed the contract with the Renaissance Russians

Romania's Economy minister signed the contract with the Renaissance Capital Limited, EFG Eurobank Securities, BT Securities and SC Romcapital SA for the mediation of the sales offer of 9.84% of OMV Petrom shares the state owns.

The ministry received six proposals and the offers were opened on April 4th. The offer that won met the highest points of 92.5 points of a total of 100 possible, the ministry said.

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.

Renaissance Capital is the leading investment bank focused on the emerging markets of Russia, Eastern Europe, Central Asia and Africa. The Firm also offers its clients access to these markets through financial centers such as London, New York and Hong Kong. Renaissance Capital has market-leading positions in each of its core businesses – M&A, equity and debt capital markets, securities sales and trading, research, and derivatives. The Firm is building market-leading practices across emerging markets globally in metals and mining, oil and gas and agriculture. Renaissance Capital is part of the Renaissance Group.

Sursa: http://www.actmedia.eu

Tags: renaissance securities ministry capital economy euro

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