“The takeover by Crimbo Gas International is being made through the acquisition of the majority stake (99.9%) in Petrom LPG from OMV Petrom,” the watchdog said in a statement.
Dutch group SHV Gas took over Crimbo Gas back in 2008 from Cristi Borcea and later withdrew from the market. According to most recent data, Crimbo Gas International is 50% held by Elena Borcea, the mother of businessman Cristi Borcea, while the rest of 50% is owned by Corneliu George Gadoiu.
Following the transaction, Petrom exits the bottling and distribution market but will continue to produce LPG and sell gas cylinders and auto gas through its filling stations, reads the statement.
Petrom held a 99.99% stake in Petrom LPG SA, which employs some 260 people.
Petrom LPG employs 260 people.