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Romania pockets $95 mln from Transgaz stake sale

Romania has sold a 15% stake in the natural gas distributor Transgaz, raising $94.9 million (€72 million), Energy Minister Constantin Nita said Wednesday. The sale was one of Romania’s commitments to the International Monetary Fund and the European Union, which have provided Bucharest with up to €25 billion in emergency credit. “Around 70% of the stake was bought by foreign investors, at an average price per share of RON 179 ($52.7)”, Nita told a press conference. He also said the government will sell a minority stake in Nuclearelectrica SA after May 15, followed in September by stakes in the gas producer Romgaz, the Oltenia energy plant and possibly in the electricity company Hidroelectrica.