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Petrom in talks with several investors for sale of Gas Distribution

Petrom officials are in talks with several investors for the sale of Petrom Gas Distribution, with the transaction scheduled to be finalized by the end of this year.

'If we cannot make a transaction good both for the seller and for the buyer, by the year's end, then we will reconsider th deadline, i.e. the end of 2008, ' Petrom CEO Mariana Gheorghe told a press conference.

This May, general manager of Distrigaz South Bernard Arnaud said the company is interested in taking over Petrom Gas Distribution, if it is for sale.

'We are interested in buying the Gas Distribution in the territory we are operating in. If Petrom Gas Distribution is interested in an offer, we want to buy it, ' Arnaud said some time ago.

Asked if it is interested to get associated with E.ON Gas Romania (the company holding Distrigaz North), for buying the Petrom division, Arnaud said nothing can be ruled out, the final offer will depend on an analysis concerning the opportunity of a business.

Distrigaz South has a 47.4 percent market share, E.ON Gaz Romania holds 45.21 percent of the market, and Petrom Gas Distribution around one percent.

Sursa: http://www.rompress.ro

Tags: petrom distribution

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