The state company KazMunayGas from Kazakhstan, owner of the Petromidia refinery at Năvodari sells the fuel distributor Dyneff from France, to the company China Energy Company Limited. The agreement between the two companies provides for the acquisition by the Chinese of 51% of the Dyneff capital. The company from France, is the largest distributor of fuels in the Hexagon, thus changes its owner after almost ten years.

The sale price was not disclosed, as well as it was not known even in 2005, when Dinu Patriciu, then the owner of Rompetrol, surprised everyone when he announced that he bought a company with very good visibility in the West. At the time, Patriciu managed to convince the Dyneff founder, Antoine Lecea, to cede majority, that moment was left with tears of sentimental considerations, from the seller, according to Cotidianul.

Just two years after the takeover, Rompetrol has opened several gas stations under its own brand in France and has invested tens of millions of euros in the distribution network and the terminals. Dyneff is mainly active in southern France and northern Spain. This year also entered in the natural gas business area. Dyneff’s annual business amounts to 2.3 billion euros.

The acquisition by the CEFC of the shareholding of 51% of Dyneff, is part of the Chinese strategy to expand in the European market and is “the beginning of a long-term cooperation in a wide range of projects between China and Kazakhstan”, says the press release announcing the transaction. The Chinese perform operations in the sectors of natural gas, oil and financial services in 15 states. The company has offices in Hong Kong, USA, Singapore, England, Canada, Taiwan, Malaysia, Albania, Dubai, Indonesia and Thailand.