Rompetrol announces the buy back of the 25.1 percent stake held by OMV in The Rompetrol Group (TRG). The transaction has been completed on April 5, 2005 for an undisclosed amount. The stake reverted to the management of Rompetrol Holding, the parent company, which now controls 100 percent of The Rompetrol Group.
“As contractually agreed, once OMV completed the privatization of Petrom, Rompetrol had the right to purchase back its shares. We now exercised these rights ahead of schedule,” said Dinu Patriciu, TRG President and CEO.
TRG will continue its international expansion program under the ownership of the management focusing on developing its downstream and upstream business units in the Balkans and the CIS.