How much money will the state take from Rompetrol and what stake will it keep

Under the memorandum signed late last week, Rompetrol committed to the Romanian state to continue investments in Romania and take over more than half of the stake owned by the state in Rompetrol Rafinare, against approximately USD 200mln. According to sources close to negotiations, the Kazakhs from Rompetrl will take over a stake of almost 26% in Rompetrol Rafinare, the Romanian state following to remain the significant shareholder, with over 18%. “The agreement was to assign this package, for which we will collect approximately USD 200mln”, sources in the Ministry of Economy stated. According to a communique of the Rompetrol Group issued on Friday, the oil company will redeem only part of the stake owned by the Romanian state in Rompetrol Rafinare (44.69%), the state following to remain the significant shareholder of the Constanta-based company.