Ten days after Dinu Patriciu sold the remaining 25% equity stake in Rompetrol, the two parties involved in the transactions announce a change of name to the group headed by Romanian billionaire and a new brand for the future Rompetrol filling stations. In addition, the Kazakh-based KazMunaiGaz announces the appointment of Saduokhas Meralyiev at the helm of newly-acquired Rompetrol.
The future Rompetrol filling stations to be renamed as Litro
State-owned KazMunaiGaz, shareholder of Rompetrol Group, will rename the future filling stations set up by the group as Litro, according to Saduokhas Meralyiev, the new chief executive officer of Rompetrol Group.
“It was a decision of the board, based on the consultant’s expertise. The old fillings stations will keep their name, but the old ones currently under Rompetrol brand to be modernized will be renamed as Litro”, said Saduokhas Meralyiev.
He added the group would keep Dyneff brand unchanged in France and Spain.
According to the new CEO of Rompetrol Group, the first filling stations to receive the new brand Litro will be those that will be opened on the A2 motorway.
Rompetrol Downstream operates over 900 filling stations across 13 countries, 450 of which being in Romania.
The Rompetrol Group (TRG) was part of Rompetrol Holding until August 2007, when Patriciu sold 75% equity stake in state-owned KazMunaiGaz from Kazakhstan. In June 26, Dinu Patriciu announced the sale of the remaining 25% stake to the same company. Therefore, Rompetrol Group is now fully owned by KazMunaiGaz.
Patriciu rebrands Rompetrol Holding
In a similar move, Rompetrol Holding fully owned by Romanian Dinu Patriciu, will rename the company as DP Holding to avoid confusion with Rompetrol Group, said Dinu Patriciu.
“In order to avoid confusion with Rompetrol Group, I will change the name of Rompetrol Holding into DP Holding this year. The headquarter of the holding will remain in Switzerland”, said Dinu Patriciu.
Rompetrol Holding has over 10,000 employees, Dinu Patriciu continued, of which 1,100 work in the affiliated media group Adevarul Holding.
Article comments "Double rebranding and a new CEO after Dinu Patriciu’s exit from Rompetrol"
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