Kazahstan

Chinese Seal Major Romanian Energy Acquisition

Published by Balkan Insight on Thu, 07/27/2017 - 15:58

Romania on Thursday approved China Energy Company Limited's purchase of a majority stake in KMG International, by which it will obtain control of the Romanian energy company Rompetrol Rafinare.

Kazahstan-based KMG International owns 48.1 per cent of Rompetrol Rafinare, with the Romanian state owning another 44.7 per cent. Other share holders hold the rest.