KazMunaiGas to buy 26.7% of Rompetrol Rafinare’s shares from Romanian government
Edited by Rhod Mackenzie / 2014-01-31 06:10:26
The Romanian government has finally approved the memorandum of understanding, signed in February of the last year between the company Rompetrol (100% subsidiary of KazMunaiGas) and the Agency for state-owned stakes and privatization management of the Romanian Ministry of Energy, by its decree.
The main items of the memorandum are purchase of 26.7% of Rompetrol Rafinare’s shares (subsidiary of Pompetrol group) for $200 million from the Romanian government and the creation of a joint investment fund for implementation of projects in the energy sector of Romania, in which KazMunaiGas is interested. The share of the Romanian government in the investment fund will make up 20%.
