Patriciu to sell the 25 % package he owned at Rompetrol

Romanian businessman Dinu Patriciu sold the rest of 25 % shares he owned at Romapetrol group to Kazahstan's KazMunayGas, according to a press release issued by the Bucharest Stock Exchange.

Kazahstan's KazMunayGas acquired the 25% stake it did not own in the Rompetrol Group, becoming the sole shareholder of the Dutch-based company.

“My decision of selling the shares to Rompetrol Group is part of an extended business strategy. I’m planning to concentrate all my efforts in three main sectors: European real estate market, media and a number of other significant project in the energy field.”

"KazMunayGas remains the largest foreign investor in Romania and will continue its projects for reconstructing Petromidia refinery and expanding retail network of Rompetrol stations in Romania," KazMunayGas president Kayrgeldy Kabyldin said.
Dinu Patriciu said he would continue supporting KazMunayGas during this transition period, until a new CEO will be designated. .

In Romania, Rompetrol owns two refineries, Petromidia and Vega.