Dinu Patriciu has relocated the management of the Romanian companies included in the Rompetrol group from the Netherlands to Romania, by setting up Rompetrol Financial Group SRL at the end of last year.
The new company, with a share capital of 104.7 million euros, was set up to the end of avoiding complications linked to fiscal reporting by The Rompetrol Group N. V., registered in the Netherlands, to the Ducth authorities, as The Rompetrol Group was no longer ranked as a holding and was to be subjected to a different taxation regime, according to sources close to the operation.
Consequently, Rompetrol Financial Group SRL was created in Romania - a company that is 72.21% controlled by The Rompetrol Group N.V., with a further 27.78% stake held by Rompetrol SA Bucharest. Both shareholders contributed stock of the companies within the Rompetrol group, in which the two own stakes.
In the wake of this operation, Rompetrol Financial Group is to replace The Rompetrol Group N.V. within the shareholding structure of the companies belonging to Rompetrol. This way, The Rompetrol Group N. V. will be significantly "relieved" from reporting to the Dutch fiscal regime and authorities.
The new company will be able to invest in stocks or repurchase shares of the Rompetrol group of companies, since the new entity was conceived as an interface between the companies of the group, banks and brokerages.
Exchange market sources state that Rompetrol Financial Group has been buying stock of Rompetrol Rafinare Petromidia on the Bourse, this way contributing to the increase of the price.
adrian.mirsanu@zf.ro ; vlad.nicolaescu@zf.ro
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