National Company KazMunayGaz (Kazakhstan) briefs on The Rompetrol Group's current affairs and future prospects

03.03.11 10:55
/KASE, March 3, 11/ - National Company KazMunayGaz (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of March 2, 2011: quote On March 2, the management of The Rompetrol Group met up with representatives of leading mass-media inn Almaty. Tolegen Boszhanov, Managing Director for Business Development of NC KazMunayGaz, Saduakas Meraliev, Director General of The Rompetrol Group, and Dmitriy Grigoriev, Deputy Director General for Finance of The Rompetrol Group, presented to the journalists an analysis of the current state of affairs and futures prospects of the company. As previously reported The Rompetrol Group was acquired in 2007 by NC KMG's subsidiary - KazMunayGaz Processing and Marketing in accordance with instructions of the President and Government of the Republic of Kazakhstan regarding the entrance of Kazakhstan's national companies into world markets. This new asset has provided NC KMG with an access to the stable and ever growing European market in order to sell Kazakhstan's energy resources there. Thus NC KMG obtained a possibility of reaching 12 European markets with an aggregated population of over 300 m people. In particular, Romania's market is the most attractive and geographically closest European market for Kazakhstan. The 100% stake in The Rompetrol Group cost NC KMG as much as USD1,750 m having been defined after a thorough analysis with international experts like ABN AMRO, PriceWaterHouseCoopers, Norton Rose, Wolf Theiss, Purving&Gertz, ENW, ERM involved. The investment bank ABN AMRO had issued an official conclusion on "the deal's fairness" (fairness opinion), approved by the Bank's credit committee. unquote The full version of this press-release is available on KASE website, at http://www.kase.kz/files/emitters/KMGZ/kmgz_reliz_020311.pdf [2011-03-03]