Patriciu: "I would have paid the EUR 571 million debt of RRC"

Newsroom 06/10/2010 | 13:35

Romanian businessman Dinu Patriciu has stated yesterday at a press conference that “I would have paid the EUR 571 million debt of Rompetrol Rafinare (RRC) to the state budget.” Asked from where he would have brought the money he answered that “he left the company with operational profit.”

Patriciu stated as well that the fact that the majority shareholder KazMunaiGaz (KMG) choose not to pay the entire debt is a right gained by contract.  

According to Patriciu, the RRC’s debt was taken into account when Patriciu sold the majority stake in The Rompetrol Group to KMG.

In October when Dinu Patriciu was Rompetrol owner, Nastase government has transformed in state bonds with seven years maturity the budgetary debt of Rompetrol. At September 30 the deadline has expired and KMG the new majority shareholder has decided in the general shareholders assembly to convert the bonds into shares. As such, the state became once again a minority shareholder at Rompetrol with a 44.69 percent stake. The government announced that would contest in court the RRC general shareholders assembly decision.

 

D.C.

Tags: , ,
BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Newsroom | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue