Petrom held a 99.99% stake in Petrom LPG SA, which employed some 260 people.
“After completing the transaction, the new company’s name will be Gaspeco L&D,” OMV Petrom said in a statement Tuesday.
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.
Crimbo Gas International is equally owned by Elena Borcea and Corneliu George Gadoiu.