Romanian Fondul Proprietatea to sell 2.9% stake in OMV Petrom

BUCHAREST, Dec 13 (Reuters) - Romanian investment fund Fondul Proprietatea (FP.BX) said on Tuesday it would sell roughly 1.78 billion shares in oil and gas group OMV Petrom (ROSNP.BX), majority-controlled by Austria's OMV (OMVV.VI), in an accelerated bookbuilding process.

The shares account for roughly 2.9% of OMV Petrom, Fondul's entire stake in the company, valued at 150 million euros ($159.45 million).

The fund, run by investment manager Franklin Templeton, said the process would start immediately, with Banca Comerciala Romana and Auerbach Grayson and Company LLC acting as joint bookrunners for the transaction.

($1 = 0.9407 euros)

Reporting by Luiza Ilie Editing by Gareth Jones

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