TRG takes over 2.61 percent of Rompetrol Rafinare shares from Rompetrol Downstream

The Rompetrol Group TRG has taken over 2,61 percent of the Rompetrol Rafinare RRC shares from Rompetrol Downstream, the group’s retail division. The transaction has a EUR 7.8 million (RON 33.6 million) value.

Kazak company KazMunai Gas controls 98.6 percent of the Rompetrol Rafinare shares through the Rompetrol Group. The transaction involved 551,802 million shares at the price of RON 0.061 per share.

Rompetrol representatives told Mediafax the transaction is meant to consolidate and clarify the state of the group’s participations in the member companies.

At the beginning of the month, the National Fiscal Administration Authority ANAF has seized some land and installations belonging to Rompetrol Rafinare, as well as participations of the company in its subsidiaries, the oil company has announced.

Rompetrol says the “levy is an interdiction to dispose the assets that were seized,” and it has no plans to dispose of them. In between 2007 and 2010 Rompetrol’s investment program reached over EUR 1 billion, based on financing of EUR 1.8 billion coming from the majority shareholder KazMunayGas.

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