According to Serbian media, KMG International, the former Rompetrol Group, is interested in the purchase of HIP Petrohemija, a petrochemical plant in Pancevo, Serbia. The company has already submitted a non-binding letter of intent.
Serbia has already sold oil refinery in Pancevo, which is a part of oil company NIS, to Russian Gazprom and now it is trying to sell its petrochemical assets there as well. Besides HIP Petrohemija, Serbian Government is also trying to privatize its other two petrochemical plants – MSK Kikinda and HIP Azotara. However, HIP Petrohemija is the largest petrochemical plant in Serbia, and the state holds 55 % stake in it.
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Tags: acquisition, HIP Petrohemija, KMG International, Pancevo, petrochemical, Romania, Rompetrol, Serbia