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Romania Raised $95 Million From IMF-Pledged Transgaz Sale
Romania raised 315 million lei ($95 million) by selling a minority stake in natural-gas utility Transgaz SA (TGN) as it seeks to meet its international bailout terms. The government sold 1.76 million shares, or 15 percent of the company, at a price of 179 lei per share, according to Constantin Nita, minister delegate for energy. The offer was “significantly” oversubscribed, Nita said, without giving more details. He also said the government will sell a minority stake in Nuclearelectrica SA after May 15.
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