Renowned companies within the US and Gulf (Saudi Arabia) oil sectors are interested in participating in the privatisation of Petromidia and the State Ownership Fund is expecting other offers as well, sources within SOF Management Board told Ziarul Financiar.
Over the last two years, SOF has failed in its attempts to privatise Petromidia refinery. Last year, after the failure of a contract concluded with Turkish firm Akmaya, SOF did not manage to select an administrator and a financing institution for the refinery's activity.
The deadline by which investors interested in Petromidia's privatisation can submit letters of intent for participation in direct negotiations for the sale of 69.99 percent in the refinery's stock is October 9, according to SOF.
Potential investors have to buy the informing memorandum and to deposit a banking guarantee worth 2.8 million dollars.
SOF decided to resume Petromidia privatisation process after the Arbitrage Court approved the annulment of the contract for the sale of 65 percent in the refinery's stock, which had been signed with Turkish firm Akmaya. At the same time, SOF obtained the right to cash in the banking guarantee letter worth seven million dollars.
Petromidia's share capital is worth 41 million dollars. Beside SOF, its other shareholders are SIF Transilvania with a stake of 21.79 percent and PAS with 8.21 percent in stock.
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