US-based group Marco International, which bought aluminium companies Alro and Alprom Slatina from the Romanian State, will also participate in the privatisation of SNP Petrom, together with the world’s number one natural gas producer, Gazprom, market sources say.
The Gazprom-Marco International alliance for Petrom has kept a low profile so far, as Marco is not on the list of letters of intent next to the Russian group. The co-operation of the two for Petrom’s privatisation can be considered all the more surprising since none of them is engaged in oil operations.
Gazprom deals in gas drilling, transport and trade, and Marco International is a trader dealing in non-ferrous metals.
On the other hand, surveys show Petrom is bound to become Romania’s number one gas producer by 2007, leaving Romgaz behind.
Marco International’s representatives in Romania could not be reached for comment on the involvement in Petrom’s privatisation.
Marco International is considered a politically influential company due to its surprising evolution on the Romanian market. The trader, which is but a medium-sized one internationally, is registered in New York and officially held by the American Kestenbaum family. The group entered Romania in 1999, when it bought trader Conef Bucharest, which held 10% in Alro and Alprom.
Back in 2001, Marco International managed to become the majority shareholder of one of the most coveted Romanian state-run companies, Alro Slatina, following the purchase of Alro shares on the Stock Exchange and from the Romanian State. The American company at the time managed to beat international aluminium groups in a fight that was both financial and political. Marco went on and bought Alprom Slatina in 2002.
The Economy Ministry is to go public with a list of those investors that may bid for Petrom today.
laurentiu.ispir@zf.ro