Romania’s market for mergers & acquisitions (M&A) has remained at around EUR 1 billion in 2013, driven by deals in the banking and renewable sector, although big investors have held back and are carefully planning moves for next year, say deal makers.
By Ovidiu Posirca
Energy
Gazprom Neft buys Romanian bunkering operator
Value of transaction: Not made public
Legal team, buyer: Wolf Theiss
Legal team, seller: Not applicable
Gazpromneft Marine Bunker, part of Russian oil and gas giant Gazprom Neft, acquired the Romanian bunkering operator Marine Bunker Balkan, which is based in the Black Sea. The Gazprom Neft subsidiary supplies bunker fuel for marine and river vessels. The company is a leading operator in the bunker market and is present in all the major Russian ports.
NIS Petrol buys two petrol stations, eight land plots in Romania
Value of transaction: Not made public
Legal team, buyer: Tuca Zbarcea & Asociatii
Legal team, seller: Not applicable
NIS Petrol, the local subsidiary of Gazprom Group, acquired two petrol stations and eight plots of land suitable for the construction of petrol stations. The Romanian unit of Serbia’s Naftna Industrija Srbije (NIS) is controlled by Russian oil group Gazprom Neft. According to media reports, NIS Petrol plans to reach a network of 120 petrol stations in Romania by the end of 2014.
Oltenia Energy Holding completes merger
Value of transaction: Not made public
Legal team, absorbing company: Zamfirescu Racoti & Partners
The Oltenia Energy Holding, a state-owned group active in the energy sector, absorbed another state-owned company, Societatea Nationala a Huilei Petrosani. The authorities aim to sell a minority stake in the holding on the Bucharest Stock Exchange in the first half of 2014.
OMV Petrom sells Petrom Distributie Gaze to Ligatne
Value of transaction: Not made public
Legal team, buyer: Not made public
Legal team, seller: DLA Piper
Oil and gas producer OMV Petrom sold its non-core gas distribution company Petrom Distributie Gaze (PDG) to Cyprus-based Ligatne as part of its strategy to optimize downstream operations. Ligatne’s parent company controls Gaz Sud and Grup Dezvoltare Retele (GDR), which serve over 22,000 clients in areas around Bucharest through a distribution network of approximately 700 kilometers.
State and Rompetrol Group strike Rompetrol Rafinare share deal
Value of transaction: EUR 600 million
Legal team, buyer: NNDKP and Tuca Zbarcea & Asociatii
Legal team, seller: Not made public
The Rompetrol Group, the oil major controlled by KazMunaiGaz, and the Romanian state decided to settle a EUR 600 million dispute by entering into a long-term partnership that could include the state’s acquisition of shares in Rompetrol Rafinare, the owner and operator of one of the biggest crude oil refineries in Romania, and the development of joint investments in the energy sector.
ExxonMobil in farm-in deal over Black Sea block
Value of transaction: around EUR 100 million
Legal team, buyer: NNDKP
Legal team, seller: Musat & Asociatii advised one of the sellers
American oil giant ExxonMobil began the farm-in process at an important offshore oil and natural gas concession, as part of ExxonMobil’s strategy of expanding its oil and gas activities in the Black Sea.