Vetro Energy

Vetro Energy
Private
Industry Oil and gas
Products Petroleum product
Website vetroenergy.com

Vetro Energy is a Singapore and Houston, TX based operating and management company with Rezart Taçi as its majority shareholder.[1] Vetro Energy targets upstream oil & gas investments worldwide.[2] In October, 2012, Vetro Energy bid to privatize the Albania state-owned oil company Albpetrol.

Albpetrol acquisition

On October 3, 2012, the Albania government announced, Vetro Energy won the bid for the privatization of Albpetrol, which would have given it the right to use the Albanian state-owned oil firm for the next 25 years. Vetro’s bid of 850 million Euros ($1.1 billion) for Albpetrol was rated 97.7 points by Albania’s U.S. consultancy, Patton Boggs. Other bids included offers from China’s Win Business Bright Oil, and Canada’s Bankers Petroleum.[3] After winning the bid to buy Albpetrol, Rezart Taçi announced on November 22, 2012, Vetro Energy had completed the financing of 850 million Euros to finance the transaction.[4][5]

The deal was subsequently cancelled by the Albanian government after Vetro Energy failed to pay the initial payment.[6]

References

  1. ↑ "Rezart Taci's Companies". RezartTaci.com.
  2. ↑ "Vetro Energy Website".
  3. ↑ Screen TV "Albpetrol privatized. Government announces Vetro Energy as winner" Check |url= value (help). 10/013/12. Retrieved 22 November 2012. Check date values in: |date= (help)
  4. ↑ "Taci Finalises Financing Package in one of the Balkans' Largest Ever Corporate Deals". Market Watch. Retrieved 2012-11-22.
  5. ↑ "Rezart Taci Finalises Financing Package for Albpetrol Purchase". Rezart Taci.com. Retrieved 2012-11-22.
  6. ↑ "Albania calls off Vetro offer for Albpetrol oil firm". Reuters. Retrieved 3 January 2016.
This article is issued from Wikipedia - version of the 1/3/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.