“Today, March 30, 2022, S.N.G.N. ROMGAZ S.A. (as borrower) and Raiffeisen Bank S.A. (as lender), signed the Bank Loan Agreement no. 37843/March 30, 2022 in amount of EUR 325 million as well as the related binding terms and conditions in order to finance part of the acquisition price of all shares issued by (representing 100% of the share capital of) Exxon Mobil Exploration and Production Romania Limited”, the company said in a stock market announcement.
On March 22, 2022, Romgaz announced on the Bucharest Stock Exchange that it was moving towards the completion of the transaction with the US’ Exxon on the acquisition of the latter’s stake in the Black Sea gas project. The value of the deal is $1.06 billion, and Romgaz must make a $106 million advance payment right away.
Romgaz’s management said the deal would be completed in the second quarter of 2022. The transaction has been delayed lately due to the adjustment of some clauses in the sale and purchase agreement.
Romgaz bought 50% of the Black Sea gas project, the other part being owned by OMV Petrom.