Romgaz buys Azomureș, in a deal worth tens of millions of euros. Bolojan: “One of the most important transactions in recent years”
The takeover of Azomureș by Romgaz saves the production of fertilizers for agriculture, said interim Prime Minister Ilie Bolojan, on Friday evening, in a post announcing that the contract for the purchase of 69 million euros had been signed.
The Prime Minister said that the contract was signed on Friday and the transaction was approved by the Board of Directors of Romgaz.
“Romgaz took over the Azomureș platform for the sum of 69 million euros, of which a little over 46 million euros represent the value of the plant, up to 10 million euros represent the raw material and consumable stocks, and a maximum of 13 million euros represent the costs necessary to keep the plant in operation and pay employees in the next two months, until the actual takeover”, explained Bolojan.
He specified that the approval of the General Assembly of Romgaz Shareholders, the opinion of the Competition Council and that of the Foreign Direct Investment Examination Commission (CEISD) must still be obtained.
“It will ensure stable prices for our farmers”
The interim prime minister said that “the takeover of the Azomureș complex by Romgaz saves the production of fertilizers for agriculture in Romania and will ensure stable prices for our farmers in the years to come”.
“Romgaz is diversifying its activity and adding value, through processing in the Romanian industry, to the gas from the Black Sea”, added Ilie Bolojan.
Bolojan described the transaction as “one of the most important” in recent years.
“Considering the importance of fertilizer production in the context of the crisis in the Gulf and the capitalization in the interest of the national economy of the resources we have, taking into account the impact of the combine in Mureș County and the number of employees, over 900, this is one of the most important transactions carried out in recent years”, concluded interim Prime Minister Ilie Bolojan.
