Dentons has advised CEFC Hainan International Holding Co., Ltd., a subsidiary of CEFC China Energy Company (CEFC), on its acquisition of a majority stake in KMG International (KMGI), a unit of Kazakhstan’s state oil and gas company, which owns refining and fuel distribution assets in Europe.
CEFC is a major private energy, financial services and investment company in China. It will take a 51% stake in KMGI, the former Rompetrol Group, which was purchased by the National Company of Kazakhstan KazMunayGas JSC for $2.7 billion in 2007, in the biggest private transaction in Romanian history.
“Dentons is very pleased to have had the opportunity to advise CEFC on this flagship transaction for the CEE region,” commented Dentons Partner and Head of China Energy Practice Sarah Zeng. Dentons Co-Chair of the Global Private Equity Group Rob Irving and transaction team leader added: “With this and other recent investments, CEFC is becoming a showpiece for the increasing importance of Chinese investment in the region.”
The Dentons team on the deal was led by Partner Rob Irving, supported by Partner Anita Horváth and Associates Tünde Gönczöl, with Partners Claudiu Munteanu-Jipescu, Anda Todor and Senior Associate Andrei Orbesteanu (Bucharest), Partner Sarah Zeng and Counsel Susan Wang (Beijing), Senior Associate Christopher Colclough (Milton Keynes, seconded to Budapest) and Associate Rukia Khatun (Milton Keynes).
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