Romania's Petrom May Change Name To OMV Petrom

The shareholders of Romania's largest oil company Petrom (SNP.RO) will discuss on October 20 a proposal to change the company’s name into OMV Petrom, to include the name of its majority stockholder, Austrian OMV group.

12 views

Petrom's board summoned a special shareholders' meeting on October 20 to approve several changes to the company's by-laws.

The company has a share share capital of 5.664 billion lei (EUR1=RON4.2579), split up into 56.664 billion shares with a face value of RON0.1 per unit.

Petrom's majority shareholder is Austria's OMV (OMV.VI) with a 51% stake, while the Romanian Economy Ministry holds a 20.6% stake, and Proprietatea Fund owns 20.1% of the company's shares. EBRD has a 2% stake in Petrom.

The company's first half net profit was at RON923 million, down 44.5% from the same period a year ago.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.