CEFC acquisition of 51% stake in KMG International

Overview:

• CEFC Hainan International Holding, a subsidiary of Chinese energy company CEFC China Energy has acquired a 51% majority stake in KMG International (KMGI).
• KMGI is a downstream oil and gas company and a subsidiary of Kazakhstan Oil Company KazMunayGas. Largely made up of the former Rompetrol Group, it was acquired by the Kazakh firm in 2007.
• KMGI owns a refinery and fertilizer plant in Romania and a network of petrol stations.
• The deal is part of a wider $4 billion package of deals signed in December 2015 including Chinese investment in the oil and gas, telecoms and energy sectors.

Sam Duke - Editor