Ponta: We demanded Rompetrol to have USD 1 bln for investments

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Premier Victor Ponta said yesterday that significant progress has been made in the talks aimed at solving the dispute with Rompetrol and that, aside from the sum paid for the share package to be repurchased, which will go to the state budget, Rompetrol must have almost USD 1 bln for investments, Mediafax reports.
The premier added that today he will have a talk over solving the dispute concerning Rompetrol.
The state might sell at auction the shares it holds in Rompetrol Rafinare (RRC), to the highest bidding company, as Rompetrol wants to repurchase in a first phase 25 pc of the shares, at an estimated price of approximately RON 273 M (EUR 62.1 M) at current quotations. “If other companies gave a better price, the state would sell to them, under the acting legislation, at auction,” sources close to the talks said.
The Rompetrol group announced last week that it concluded a memorandum with the Office for State Ownership and Industrial Privatisation (OPSPI), in which it promises to partly repurchase the Rompetrol Rafinare shares held by the state. “Saying this is a deal would be an overstatement. They only agreed over ways of action,” added the sources.