OREANDA-NEWS. On 03 July 2009 was announced, that KazMunayGas National Company (KMG) had completed the acquisition of the 25 percent equity interest in The Rompetrol Group (TRG). Up to this date, this interest was owned by Rompetrol Holding SA. As a result of this transaction, KMG will own 100 percent of TRG’s equity. This sale was conducted as a private transaction and is based on the terms of the initial share purchase agreement that was signed in August 2007 in connection with the sale by Rompetrol Holding SA of the initial 75% stake to KazMunayGas.

Kairgeldy Kabyldin, Chairman of KMG noted: "The acquisition of the remaining stake was carried out in line with KMG’s strategy for the development of foreign-based assets.”

“Remaining the largest foreign investor in Romania, KazMunayGas will continue implementing investment projects related to the Program for Reconstruction of Petromidia refinery, operating the Midia marine terminal and expanding TRG’s retail network both in Romania and abroad,” – said Mr. Kabyldin.

Dinu Patriciu stated: “Since August 2007, when KazMunayGas acquired a 75% stake in The Rompetrol Group, I have had the privilege to observe the extremely high level of knowledge, experience and, above all, commitment to the success of the company that KMG’s management has brought. I am confident that this is the best possible deal for the company, its shareholders, management and employees since KMG has the skills, resources and determination to take the company to its next stage of development. Over the years, we have built a modern and highly successful European oil company, presently operating in 13 countries and I know that KMG fully shares my commitment to this great company of which every Romanian can be proud.”