Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • October 2015 (Revised July 2017)
  • Case
  • HBS Case Collection

OMV Petrom: Investment as Partnership—When It Takes Three to Tango

By: Dante Roscini, Emer Maloney and Daniela Beyersdorfer
  • Format:Print
  • | Language:English
  • | Pages:30
ShareBar

Abstract

Petrom was privatized by the Romanian state in 2004 and acquired by Austrian oil company OMV, with the state retaining a 20.6% stake in the company. The situation was particularly challenging for the foreign investor since the sector in which the company operated was strategic, was regulated by the Romanian state and the company was a key employer and tax payer in a country that was undergoing major structural change. Under OMV and CEO Mariana Gheorghe's leadership, OMV Petrom saw its net profit and sales almost double since 2005, while headcount was reduced by 50%. Gheorghe had negotiated challenges stemming from Petrom's legacy as a state-owned company, such as lack of investment, aged assets, operational inefficiency, and bureaucracy while successfully managing the triangular partnership between the acquirer OMV, acquiree OMV Petrom and the Romanian government.

Keywords

Partners and Partnerships; Privatization; Acquisition; Foreign Direct Investment; Cross-Cultural and Cross-Border Issues; Business and Government Relations; Energy Industry; Austria; Romania

Citation

Roscini, Dante, Emer Maloney, and Daniela Beyersdorfer. "OMV Petrom: Investment as Partnership—When It Takes Three to Tango." Harvard Business School Case 716-035, October 2015. (Revised July 2017.)
  • Educators
  • Purchase

About The Author

Dante Roscini

Business, Government and the International Economy
→More Publications

Related Work

    • October 2016
    • Faculty Research

    OMV Petrom: Investment as Partnership—When It Takes Three to Tango

    By: Dante Roscini and Emer Moloney
    • October 2015 (Revised July 2017)
    • Faculty Research

    OMV Petrom: Investment as Partnership—When It Takes Three to Tango

    By: Dante Roscini, Emer Maloney and Daniela Beyersdorfer
Related Work
  • OMV Petrom: Investment as Partnership—When It Takes Three to Tango By: Dante Roscini and Emer Moloney
  • OMV Petrom: Investment as Partnership—When It Takes Three to Tango By: Dante Roscini, Emer Maloney and Daniela Beyersdorfer
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College