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Privatization of ARMO  - Ministry of Energy opens the tender

19. February 2008

The Ministry of Energy has opened the tender for the privatization of the oil refinement company, ARMO plc. The government has decided to put in sale 85% of the shares of this company through announcements in the biggest international newspapers. Sources inform that the value of the sale falls between 50-60 million euros. The government has set as a condition that the buyer must be a strategic investor with experience in the area of oil refinement.