Galnaftogaz Confirms Sale of GNG Finance Convertible Shares

In a press release yesterday, Galnaftogaz’ (GLNG: U/R) management confirmed the sale of USD 50 mln 5% 5Y mandatory convertible notes by GNG Finance Public Limited, which Bloomberg reported on last week. The company disclosed that GNG Finance is a subsidiary of Financial & Investment Energy Holding (F.I.E.H.), a majority shareholder of Galnaftogaz.