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Saturday, December 10, 2005

Rompetrol Takes Over Dyneff-France

Rompetrol Group acquired the entire capital of Dyneff - the largest independent distributor of oil products in France - and of its affiliated entities while the acquisition is expected to double Rompetrol’s turnover in 2006, to USD 5 bln.

“This acquisition, Romania’s first and most significant one in the European market, will enable Rompetrol to double its turnover, which will reach $5 bln in 2006, double its storage capacity, increase the number of its petrol stations by 70 per cent, its total assets by 25 per cent, its operational profits by 20-25 per cent and its net profits by 10-12 per cent,” Patriciu stated.

He did not disclose the transaction value, but emphasised that it is a direct financing, mostly funded by Societe Generale.

Negotiations over the Dyneff take-over started eight-nine months ago, and detailed talks five months ago.

The transaction will be finalised in the first quarter of 2006.

The 226 petrol stations in the Dyneff network will be re-named “Station du Soleil” and will bear the Rompetrol logo.

Posted by Mihai : 12/10/2005 11:17:00 am