Although it was postponed at the first shareholders’ call, which took place yesterday, the transaction by which Romgaz takes over 50% of the shares of Neptun Deep from Exxon was approved today “without problems”, sources told Energynomics.
“The transaction was approved without any problems, including the 325 million euro loan that will be taken from a bank at a very good margin,” the quoted source also told us.
Romgaz shareholders did not meet the quorum required for the approval of the transaction on Thursday, December 9, the “very thick” documents being signed on Friday, December 10, by shareholders, including Romanian state officials, through the Ministry of Energy.
Romgaz will have to pay more than US $1 billion to Exxon and will then have to invest up to $2 billion, as it also will its Neptun Deep partner, OMV Petrom – says a recent report of the Austrian company.
SNGN Romgaz convened, for December 9/10, the Ordinary and Extraordinary General Shareholders’s Meetings to approve the transaction regarding the takeover of ExxonMobil’s participation in the Neptun project, respectively contracting loans from one or more credit institutions, in total value of 325 million euro, in order to cover part of the purchase transaction price.
The Board of Directors of the company recently approved the acquisition of all shares issued by ExxonMobil Exploration and Production Romania Limited, which owns 50% of the Neptun Deep project, and the conclusion of the sale-purchase contract, the purchase price being of USD 1.060 billion, a price that can be adjusted positively by up to USD 10 million.
