Tender sells Atlas Gip for 16.6 million euros

US-based Weatherford group took over the majority interest in coring company Atlas Gip (ATGJ) based in Ploiesti from businessman Ovidiu Tender via three special deals on the RASDAQ market on Wednesday worth a total of 16.6 million euros. Weatherford, one of the leading international players on the market of petroleum services bought 86% of Atlas Gip for 83 RON, 30% higher than the average trading price of these shares in 2008. Based on this price Atlas Gip is put at 19.3 million euros. The geological surveying company was controlled by Ovidiu Tender through Tender SA and Vulcan Bucuresti (VULC), which are no longer shareholders of the company as a result of the deals on Wednesday. Weatherford had announced early in the year that it planned to make acquisitions on the Romanian market after having bought petroleum service company BOSS Campina from Petrom for 10 million euros in February.