KMG International NV (KMGI), the major shareholder of the company Rompetrol Rafinare SA, announces that negotiations between the National Company KazMunayGas of Kazakhstan (KMG NC) and Chinese company CEFC (China Energy Company Limited) for the transaction of buying 51% of KMG International NV shares have reached the final stage.
Thus, an agreement between KMG NC and CEFC stating the strong commitment to pursue the transaction is expected to be signed, along with a restated set of documents, thus confirming the solid partnership between the two companies.
The assets owned and operations carried out by KMGI in Europe and in the Black Sea region will serve as a development platform that will target both the increasing of operational and financial performance of KMGI and expanding at the international level of dedicated activities and operations performed by CEFC.
The strategic partnership will deliver benefits for KMG NC, CEFC and KMG International and will establish the necessary framework for future joint projects and will contribute to the economic and social growth of the areas where those projects will be implemented, most of them being in Romania.
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