ABN AMRO, Calyon and Credit Suisse have been mandated to arrange a US$3bn financing for KazMunayGas to support the acquisition of Rompetrol Group. Through its trading company KazMunaiGaz (KMG), an agreement has been signed with Switzerland’s RomPetrol Holding to buy 75% of shares in the Netherlands-based Rompetrol Group (TRG). The remaining 25% will be held by the Swiss holding of Rompetrol.
KazMunaiGaz plans for this acquisition to increase its oil processing capabilities through providing it with access to two refineries in Romania.
The new TRG board of directors will be appointed to reflect the 75:25 split between the two new shareholders KMG and Rompetrol Holding.
Both shareholders have appointed Dinu Patriciu as chairman and CEO of the company. Remarking on the acquisition, Patriciu comments: “KMG’s investment provides TRG with the access to raw materials and finance that the company needs to continue implementing its expansion plans.”
President of KazMunaiGaz, Uzakbay Karabalin, also adds in a statement: “The acquisition of a majority stake in TRG provides us with a footprint in important downstream markets in Europe, including France, Romania, Moldova and Bulgaria, as well as the ability to utilise TRG as a platform for future expansion. The company will focus its activities in the high growth markets of the Black Sea, Balkans and Mediterranean regions. It effectively builds an energy bridge between the oil resources of Kazakhstan and the growing demand for refined products in Central, Eastern and Western Europe.”