“As part of the acquisition of Rompetrol, the group also obtained a call and put option to acquire the remaining 25 percent of shares. As at December 31, 2008, the group applied accounting for the business combination on the basis that the underlying shares subject to the put option had been acquired. On July 24, the group acquired the remaining 25 percent package for a cash consideration of 15.04 million tenge [the equivalent of some $108 mln],” the report indicates.
Rompetrol’s minority shareholders and officials of the oil group have been fighting a war of words in the past few days on the price to be included in the takeover offers for the two companies on the Stock Exchange, Rompetrol Rafinare (RRC) and Rompetrol Well Services (PTR). Rompetrol Rafinare’s market value is RON 1.3 bln (€302.3 mln), calculated at a price of RON 0.0643 per share, set Friday.
