Monday, August 27, 2007

Kazmunaigaz buys 75 pct of Romania's Rompetrol Group

BUCHAREST (Thomson Financial) - Kazakh national oil company Kazmunaigaz has bought 75 pct of Rompetrol Group's share capital, the second-largest petrol company in Romania, said Rompetrol CEO Dinu Patriciu.

'This transaction guarantees the rapid development of Rompetrol through access to Kazakhstan's resources,' Patriciu told a press conference, declining to reveal any financial details of the deal.
Rompetrol Group, which has two refineries in Romania, is valued at around 3.6 bln usd.The two groups said in a statement KazMunaiGaz 'doubles its refining capacity and gains access to 630 petrol stations held by Rompetrol across seven European from Georgia to France' through this transaction.

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