Rompetrol’s former owner, Dinu Patriciu, became the wealthiest Romanian following the transaction, with fortune estimated at €1.8-1.9 billion by market sources. The businessman said KazMunaiGaz will consolidate the company, securing access to crude oil resources.
“The takeover’s effects were not too visible. I think the company’s investment program was not modified, maybe the group had a better expansion on downstream segment,” said an analyst at SSIF Broker Cluj brokerage company, Adrian Danciu.
The takeover’s most visible effect was personnel and management restructuring. The former management system was structured on two levels, with a supervision council and directors committee, while the new management system has one board of directors. Six of the eight members are representatives of KazMunaiGaz. Patriciu is no longer the President of the board of directors, but remains President and General Manager of the group.
