Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), UBS (UBS), Bid on Petrom Sale

Six financial institutions, including Goldman Sachs Group (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS), UBS AG (NYSE:UBS), Nomura Holdings Inc. (8604) and Renaissance Capital have made bids for managing the sale of a 9.8 percent stake in OMV Petrom SA (SNP).

They have partnered with brokerages in Romania and other banks in an effort to win the business.

Romania, which values the stake in the country’s largest oil company at $698 million, plans to sell the shares by the end of June, to raise money for investment, Economy Ministry official Victor Cazana said today in Bucharest. The Balkan nation also plans to sell stakes in utilities Transelectrica SA (TEL) and Transgaz SA by the end of 2011 and will select managers to handle the sales after completing the Petrom transaction, Cazana said.

Expectations are a decision on who will manage the sale will be made within two weeks.