CEFC’s takeover of 51 % stake in KMG International approved – Romania, 27 July 2017

KMG International announced that the Romanian authorities have approved the transaction concluded in late 2016 between Kazakh company KazMunayGas, the sole owner of KMG International, and China Energy Company Limited (CEFC) through which CEFC will acquire 51 % stake in KMG International.
According to the statement, KMG International thus becomes a development platform of a strategic partnership in the energy sector in Western and Eastern Europe, which will ensure both an increase in the operational and financial performances of the group.

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