Final audit for Conpet - Petrotrans merger

Conpet’s merger with Petrotrans in view of creating a sole oil and oil products carrier on the Romanian market is now undergoing an audit, the conclusions of which will be released towards the end of the month, sources close to the talks say. “The options to split/separate the operations of Petrotrans Ploiesti, as well as the ways to conduct the merger of the company with Conpet are now the object of an audit by Darian (Darian Rom Suisse i.e.). The audit report will be presented during Petrotrans’ Board meeting on June 30,” the quoted sources said. Conpet carries oil and oil products only through pipelines, while Petrotrans uses both pipelines and the railway. The point here is to create a single entity to handle the transport through pipelines, which should remain state-owned and have Petrotrans’ railway operations privatised. Petrotrans Ploiesti is on the list of those companies to be privatised by the Industry and Resources Ministry through the Office for State’s Interests and Industrial Privatisation this year. ZF