KazMunaiGaz paid 1.6 billion dollars for 75% of the Romanian Rompetrol group

KazMunaiGaz paid 1.6 billion dollars to get 75% of the Rompetrol shares, the company’s information policy director Ilya Pustogachev declared in Astana on Monday, quoted by Romanian news agency NewsIn. He added that currently the company was undergoing a restructuring plan, which would leave the company to deal only with oil and gas.

KazMunaiGaz took over the Rompetrol group last year but the details of the transactions were not made public so far. According to information present in the media at the time, the company presumably paid some 2.7 billion dollars to acquire shares of Rompetrol.

According to Pustogachev, all other activities of the company that do not deal with oil and natural gas will be sold. When referring to the activities of Rompetrol that do not fall within these categories, he declared that a decision was not taken at the moment.