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Romania, Chinese group takes over Rompetrol
China Energy Company becomes majority stakeholder
03 May, 12:45
(ANSA) - TRIESTE, 03 MAG - China Energy Company Limited
(Cefc) become a majority stakeholder of Kmg International,
former Rompetrol group, Romania Insider reported.
The company, now Dutch-based, operates mainly on the territory
of Romania where it owns the nations' biggest oil refinery,
Petromidia, as well as a network of fuel distributors.
The move is based on the agreement signed last Friday between
Cefc and the Kazakh public oil company (Kmg), which had acquired
Rompetrol in 2007.
The agreement envisions a joint venture in which Cefc will own 51% while Kmg will control the remaining 49%. Cefc, according to the agreement, will be in charge of a series of investments in the EU and the neighbouring countries of the New Silk Road.(ANSA).
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The agreement envisions a joint venture in which Cefc will own 51% while Kmg will control the remaining 49%. Cefc, according to the agreement, will be in charge of a series of investments in the EU and the neighbouring countries of the New Silk Road.(ANSA).
