Wednesday, July 20, 2011

Rompetrol Refuses NIS Offer for Romania Stations, Mediafax Says

Oil refiner Rompetrol Group NV declined an offer by Serbia’s Naftna Industrija Srbije AD to buy its Romanian gas station network, Mediafax reported.

OAO Gazprom Neft, the oil arm of Russia’s state-controlled gas producer that owns 51 percent of NIS, sent an offer two months ago to acquire Rompetrol’s network of 450 gas stations, the Bucharest-basednews service reported, citing Rompetrol Chief Executive Officer Saduokhas Meraliyev.

Meraliyev declined to disclose the value of the offer, the news service said. Rompetrol’s network is valued at 500 million euros ($709 million) to 600 million euros, Mediafax said, citing Titov Buzescu, the group’s vice-president for retail.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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