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A CEFC (China Energy Company Limited) delegation along with executive management members of KMGInternational (KMGI) had a series of meetings between March 21-22 periodwith several banks operating on the local market, recent years’ supporters of KMGI’s investment plans throughloans extended for the company.
The purpose of the meetings held between CEFC representatives and BCR (Romanian Commercial Bank), Unicredit, Raiffeisen, ING and Bancpost was to acquaint KMGI’s banking industry partners with the development plans envisioned by the future shareholder of the company. The introduction of the new company shareholder is a common practice for the client-banking institution relationship in regions where the company operates.
This week’s endeavors confirm, once again, the interest and commitment of CEFC for strengthening KMGI investments and extending its operations.
National Company KazMunayGas Kazakhstan (KMG NC) and CEFC signed in December 2016, in Bucharest, an agreement stating the commitment to pursue the transaction of buying 51% of KMGI shares by the Chinese company.
By completing the process of acquiring 51% of KMGI’s shares this year, after obtaining all necessary approvals for concluding the transaction, CEFC will significantly contribute to accelerating the company development, both at local and regional levels.
The strategic partnership will bring benefits for KMG NC, CEFC and KMGI, and will set the framework for future joint projects, contributing to economic and social growth in areas where these projects are to be implemented, most of them in Romania.
CEFC China Energy Company Limitedis one of the largest private companies in China.CEFC ranks as Global Fortune 500 for the past 3 continuous years, in 2016 ranking 229th. CEFC carries out operations in energy, financial and investment services. CEFC conducts business worldwide, in different countries including Czech Republic, United Arab Emirates and Republic of Chad.
JSC NC KazMunayGas is the National Oil & Gas Company of the Republic of Kazakhstan and operator for exploration, production, refining and transportation of hydrocarbons, representing the state's interests in the oil and gas industry of Kazakhstan, being a vertically integrated oil and gas companywith a complete production cycle from exploration and production of hydrocarbons, their transportation and processing to providing specialized services.
KMG International N.V.owns and carries out major operations in refining, petrochemicals, retail, and trading, on several international markets. The retail network includes over 1100 fueling points in Romania, Georgia, Bulgaria and Moldova. The carries out upstream, industrial and wells services.
