Following settlement of the transaction, Petrom will increase its participation in the company to 69.37%. The value of transaction is approximately E2.5 million.
Petrom will launch a mandatory public takeover offer to the remaining shareholders of Petrom Aviation in accordance with applicable law.
Following the transaction, the shareholders structure of Petrom Aviation will be as follows: Petrom – 69.37%, Rivta Handelsges – 6%, Fondul Proprietatea – 3%, minority shareholders – 21.63%.
Tamas Mayer, member of Petrom’s executive board responsible for marketing, said: Through its participation in Petrom Aviation, Petrom is an important player on the jet fuel market; we are confident that this acquisition, together with the modernization measures which will be implemented in the next period, will help us consolidate Petrom’s operations in this segment.
