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Vetro Energy

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Singaporean-American management company
Vetro Energy
Company typePrivate
IndustryOil and gas
ProductsPetroleum product
Websitevetroenergy.com

Vetro Energy is a Singapore and Houston, Texas–based operating and management company with Rezart Taçi as its majority shareholder. Vetro Energy targets upstream oil & gas investments worldwide. 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 ($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. After winning the bid to buy Albpetrol, Rezart Taçi announced on November 22, 2012, Vetro Energy had completed the financing of €850 million to finance the transaction.

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

References

  1. "Rezart Taci's Companies". RezartTaci.com.
  2. "Vetro Energy Website". Archived from the original on 2012-10-28. Retrieved 2012-10-26.
  3. "Albpetrol privatized. Government announces Vetro Energy as winner". Albanian Screen TV. October 13, 2012. Retrieved 22 November 2012.
  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.
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