Romgaz has started the procedure for obtaining a financing of 1.6 billion lei, to cover a part of the transaction with Exxon, according to the information sent to BVB.

“In the context of the exclusive negotiations with ExxonMobil Exploration and Production Romania Holdings Ltd. regarding the acquisition of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited which holds 50% of the acquired rights and obligations assumed by the concession for oil exploration, development and exploitation in the perimeter of the XIX Neptune Deep Water Zone, an event that was made public in the past, SNGN Romgaz SA has started a …procedure in order to obtain financing offers worth 1.6 billion lei in Euro equivalent in order to cover a part of the price of the mentioned acquisition transaction,” say Romgaz officials, according to financialintelligence.ro.

The contracting of the financing for which SNGN Romgaz SA is in the process of obtaining and evaluating offers from the banks is conditioned by the completion of the negotiation with ExxonMobil Exploration and Production Romania Holdings Ltd. of the transaction regarding the acquisition of all shares issued by (representing 100% of the capital social al) ExxonMobil Exploration and Production Romania Limited.

“The price offered by S.N.G.N. Romgaz SA for the acquisition of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited is confidential, being conditioned by the completion of negotiations of transaction documents, approval of the transaction by the General Meeting of Shareholders SNGN Romgaz SA, signing documents in accordance with the legal and statutory provisions, the obtaining of corporate approvals by ExxonMobil Exploration and Production Romania Holdings Ltd. and the fulfillment of the contractual conditions and will be notified to the shareholders on the date of convening the General Meeting of SNGN Shareholders.”