Kazakhs now want the state's stock in Petromidia
The Kazakh shareholders in Rompetrol group are willing to negotiate with the Romanian state on the repurchase of the 44.6% stake in Rompetrol Rafinare (RRC)-Petromidia they ceded to the state last week as payment for the 517m-euro debts unsettled by September 30.
The Kazakhs are virtually saying they want to pay cash for the
stock to the state, after in recent months they have maintained
they did not have money to entirely buy back the bonds, because of
Petromidia losses.
The state, which at no time wanted to become a shareholder in
Petromidia again, is likely to recover less from the sale of the
shares, as the company has been loss-making over the past years.
The government has announced it would challenge the decision to
convert bonds into shares in court.
"The Romanian state will challenge in court all the actions of
Rompetrol breaching current Romanian regulations and will recoup
these sums in court," Prime Minister Emil Boc stated on Friday.