Bogdan Tudorache

Fondul Proprietatea announces the launch of an accelerated bookbuild offering to institutional investors of a base deal of 1.454 billion existing shares in OMV Petrom S.A. According to yesterday’s quotation, OMV Petrom’s shares listed on the Bucharest Stock Exchange closed September 19 trading day at about 0.3 lei, valuing the package for sale at approximately 93 million euro.

Bookbuilding will commence immediately.

Goldman Sachs International, WOOD & Company Financial Services, A.S. and Banca Comerciala Romana will act as joint bookrunners. The Fund has agreed to a 120 day lock-up period from the pricing of the Transaction, subject to waiver with the consent of the Bookrunners and subject to certain customary exceptions. Petrom will not receive any proceeds from the transaction. The results of the transaction will be announced as soon as practicable after the close of the bookbuild process. The timing for the close of the bookbuild process, pricing and allocations are at the absolute discretion of the Fund and the bookrunners.