KazMunaiGaz to borrow EUR 2 bn to finance Rompetrol takeover

Oct 25, 2007 02:00 AM

The Kazakh oil company KazMunaiGaz intends to borrow EUR 2 bn to finance the acquisition of 75 % of Rompetrol, according to sources in the industry.
“ABN AMRO, Credite Suisse and Calyon were hired to negotiate the loan,” one of the sources stated.

KazMunaiGaz announced in August that it signed an agreement to take over 75% of Rompetrol from the businessman Dinu Patriciu.
The sum of the transaction was not made public, but it was estimated EUR 1.8 bn under the conditions where the value of the whole Rompetrol, calculated by two investment banks was of EUR 2.4 bn.

Dinu Patriciu stated at the beginning of September that he got a part of the money but the whole sum will be transferred after the agreement of the European Commission.
Rompetrol representatives stated, recently, that notification of the competition authorities in Brussels is underway.

Source / ACT Media News Agency
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