Romania to sell 27% of Rompetrol Rafinare, Business Review reports

Romania’s Ministry of Energy will sell a 27% participation in Rompetrol Rafinare for a minimum price of US $200 million and the company’s majority shareholder KMG International has first rights to buy the asset, according to information published on June 12 by Business Review, a Romanian business magazine.

If the transaction is carried out the Romanian government will still retain an 18% participation, according to the report. The plans are to conduct the sale in an auction, “reads the note accompanying the government decision draft as quoted by Mediafax,” according to Business Review.

KMG is owned by KazMunayGas in Kazakhstan, according to the report.