The Romanian state has put up for sale a 27% stake in Rompetrol Rafinare, the second largest oil company in Romania. It is asking for a minimum price of USD 200 million, reports local Capital.ro.

Rompetrol Rafinare is part of KMG International, which is controlled by KazMunayGas, the state oil company of Kazakhstan.

The Romanian state owns a 44.7% share package in the company. The Kazakh group has priority in acquiring the shares, according to a government decision. After the sale, the state will control 18% in the company.

The procedure to buy the 27% stake could extend up to 10 months, recently said Azamat Zhangulov, president of oil group KMG International.

editor@romania-insider.com