Dinu Patriciu
Encyclopedia
Dan Costache "Dinu" Patriciu (born 1950), is a billionaire businessman and entrepreneur with a long standing involvement in real estate. In 1998 he led an investor buyout of the previously state-owned Romanian oil company, Rompetrol. Nine years later, in 2007, he had built the company into a $8.6 billion turnover multinational midstream and downstream oil company before selling to Kazakhstan's state-owned energy operator, KazMunaiGaz.
He owns Adevarul Holding media trust, which publishes Forbes Romania under license from Forbes Media LLC. He is also a prominent member of the National Liberal Party
of Romania
and a member of the International Advisory Board of the Atlantic Council
, a US-headquartered think tank. According to Forbes
, as of 2008, Dinu Patriciu is the richest man in Romania, and the 397th richest person in the world by 2009, with a fortune of $2.5 billion.
. He is married and has two daughters: Ana and Maria.
Dinu Patriciu is also the founder and chairman of the Dinu Patriciu Foundation, a non-governmental organisation which aims at offering financial support to talented young people who are not in the position to further sustain their studies.
Patriciu is also an active investor in alternative energy projects, and media & communications through Adevarul Holding (whose publications include Adevarul, Adevarul de Seara, Forbes, Click, Adevarul TV). In addition to these he has interests in Romanian retail real estate projects occupied by retail chains as Macro (former MiniMax) and Mic.ro
In September 2009, Dinu Patriciu together with Lado Gurgenidze (Georgia’s ex prime minister), acquired Liberty Bank through Liberty Capital LLC, an investment company focused on the financial services institutions in emerging markets.
Previously, Dinu Patriciu was Chairman and CEO of The Rompetrol
Group, NV (TRG), a multinational petroleum company headquartered in the Netherlands
, operating in 13 countries, and with the majority of its assets and income located in Romania
, France
and South Eastern Europe. Patriciu led an investor buyout of Rompetrol SA in 1998, served on the Supervisory Board of the company since its establishment, and took over as the full time CEO in 2001. Formerly, Patriciu acted as Chairman of the Investment Committee of the Romania and Moldova Direct Fund, LP, an American-managed private equity investment fund established in 1998 whose investors include the International Finance Corporation
and the German Government-owned DEG
.
Patriciu led Rompetrol from a state-owned Romanian oil services company into one of the top 25 oil operators in the European Union, principally through a program of strategic acquisitions and organic growth. This program started with the purchase of the Vega refinery (1999), continued with Petros SA (2000) and the purchase of a majority stake in Petromidia SA (2001), owner of the most modern refinery and petrochemical complex in Romania. Subsequently, TRG embarked on an international expansion program in the Balkan region, in Moldova
, Georgia
and Ukraine
, as well as acquiring Dyneff Group SA of France, the largest independent distributor of oil products in France, at the end of 2005. This latest acquisition, along with the development of its Swiss-based trading arm, Vector Energy, transformed TRG into a bridge between Eastern European natural resources and Western European energy demand.
In August 2007, Patriciu sold 75% of Rompetrol to Kazakhstan’s KazMunayGas
(KMG). By June 2009, Patriciu also sold his remaining 25% equity stake to KMG while remaining a Member of the Board of The Rompetrol Group.
’s parliamentary group. He is a founding member of the National Liberal Party in Romania and initiator of the Free Initiative Foundation, the first Romanian NGO to support free initiative and reunite the business and political communities in an attempt to support civic development. A prominent liberal figure, Patriciu withdrew in 2003 from the Parliament and from active political life to concentrate on his business ventures. He was one of only three Romanian MPs to do so when new legislation made it incompatible for elected officials to also control significant business holdings. He remains attuned to the political life of Romania and is a keen supporter of pro-business and liberal development policies in the country.
Patriciu also serves as the Chairman of the Alliance of Romanian Employers’ Confederations, the Romanian member of UNICE
, the Confederation of European Business. In addition to TRG, he is a shareholder in several entities including a building & real estate company and a media holding.
Annual Awards Dinner which included notable speakers such as Joe Biden
, Muhtar Kent
, Placido Domingo
, Charlie Rose
, Colin Powell
, and James G. Stavridis
among others.
In May 2011, his real-estate company Dinu Patriciu Global Services appointed Ioana Momiceanu as Head of Asset Management for the Romanian DPGP Portfolio and sold offices in Sweden to Hemfosa Fastigheter in a deal estimated around 100 million euros. The company is said to currently control 117 real estate assets across five European Union member countries: Germany, Romania, Poland, the Netherlands and Belgium.
In this same month, Patriciu's retail company Mercadia Group has invested a half million EUR in re-branding the MiniMax discount store chain
as Macro in Romania.
He owns Adevarul Holding media trust, which publishes Forbes Romania under license from Forbes Media LLC. He is also a prominent member of the National Liberal Party
National Liberal Party (Romania)
The National Liberal Party , abbreviated to PNL, is a centre-right liberal party in Romania. It is the third-largest party in the Romanian Parliament, with 53 seats in the Chamber of Deputies and 22 in the Senate: behind the centre-right Democratic Liberal Party and the centre-left Social...
of Romania
Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
and a member of the International Advisory Board of the Atlantic Council
Atlantic Council
The Atlantic Council is a Washington, D.C. think tank and public policy group whose mission is to "promote constructive U.S. leadership and engagement in international affairs based on the central role of the Atlantic community in meeting the international challenges of the 21st...
, a US-headquartered think tank. According to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
, as of 2008, Dinu Patriciu is the richest man in Romania, and the 397th richest person in the world by 2009, with a fortune of $2.5 billion.
Background
Dinu Patriciu holds a degree from the Bucharest Institute of Architecture. He has received a number of architectural design awards in Romania and abroad. He has an extensive background in the real estate industry, having completed more than forty housing and commercial projects in Romania and more than 25 luxury residential complexes, offices and hotels in the United Arab EmiratesUnited Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
. He is married and has two daughters: Ana and Maria.
Business career
Since the sale of Rompetrol, Dinu Patriciu has made investments in a number of business sectors including real estate through DinuPatriciuGlobalProperties , alternative energy, supermarkets, and media.Dinu Patriciu is also the founder and chairman of the Dinu Patriciu Foundation, a non-governmental organisation which aims at offering financial support to talented young people who are not in the position to further sustain their studies.
Patriciu is also an active investor in alternative energy projects, and media & communications through Adevarul Holding (whose publications include Adevarul, Adevarul de Seara, Forbes, Click, Adevarul TV). In addition to these he has interests in Romanian retail real estate projects occupied by retail chains as Macro (former MiniMax) and Mic.ro
In September 2009, Dinu Patriciu together with Lado Gurgenidze (Georgia’s ex prime minister), acquired Liberty Bank through Liberty Capital LLC, an investment company focused on the financial services institutions in emerging markets.
Previously, Dinu Patriciu was Chairman and CEO of The Rompetrol
Rompetrol
The Rompetrol Group N.V. , is a Romanian oil company, that operates in many countries throughout Europe:unclear what "market share": refining? downstream? extraction? well services?*Romania - 2nd largest oil company, 40% market share...
Group, NV (TRG), a multinational petroleum company headquartered in the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
, operating in 13 countries, and with the majority of its assets and income located in Romania
Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
and South Eastern Europe. Patriciu led an investor buyout of Rompetrol SA in 1998, served on the Supervisory Board of the company since its establishment, and took over as the full time CEO in 2001. Formerly, Patriciu acted as Chairman of the Investment Committee of the Romania and Moldova Direct Fund, LP, an American-managed private equity investment fund established in 1998 whose investors include the International Finance Corporation
International Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
and the German Government-owned DEG
DEG
DEG or deg is an acronym or initialism that can mean:* Diethylene glycol, an organic compound* Degree **Degree , a measurement of plane angle**Degree , used in several scales of temperature...
.
Patriciu led Rompetrol from a state-owned Romanian oil services company into one of the top 25 oil operators in the European Union, principally through a program of strategic acquisitions and organic growth. This program started with the purchase of the Vega refinery (1999), continued with Petros SA (2000) and the purchase of a majority stake in Petromidia SA (2001), owner of the most modern refinery and petrochemical complex in Romania. Subsequently, TRG embarked on an international expansion program in the Balkan region, in Moldova
Moldova
Moldova , officially the Republic of Moldova is a landlocked state in Eastern Europe, located between Romania to the West and Ukraine to the North, East and South. It declared itself an independent state with the same boundaries as the preceding Moldavian Soviet Socialist Republic in 1991, as part...
, Georgia
Georgia (country)
Georgia is a sovereign state in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded to the west by the Black Sea, to the north by Russia, to the southwest by Turkey, to the south by Armenia, and to the southeast by Azerbaijan. The capital of...
and Ukraine
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
, as well as acquiring Dyneff Group SA of France, the largest independent distributor of oil products in France, at the end of 2005. This latest acquisition, along with the development of its Swiss-based trading arm, Vector Energy, transformed TRG into a bridge between Eastern European natural resources and Western European energy demand.
In August 2007, Patriciu sold 75% of Rompetrol to Kazakhstan’s KazMunayGas
KazMunayGas
KazMunayGas is the state-owned oil and gas company of Kazakhstan. It was founded in 2002 by merging Kazakhoil and Oil and Gas Transportation.-Subsidiaries:Main subsidiaries of KazMunayGas are:...
(KMG). By June 2009, Patriciu also sold his remaining 25% equity stake to KMG while remaining a Member of the Board of The Rompetrol Group.
Political career
Between 1990 and 1996, and again from 2000 to 2003, Patriciu has served as a Member of the Romanian Parliament, being a leader of the National Liberal PartyNational Liberal Party (Romania)
The National Liberal Party , abbreviated to PNL, is a centre-right liberal party in Romania. It is the third-largest party in the Romanian Parliament, with 53 seats in the Chamber of Deputies and 22 in the Senate: behind the centre-right Democratic Liberal Party and the centre-left Social...
’s parliamentary group. He is a founding member of the National Liberal Party in Romania and initiator of the Free Initiative Foundation, the first Romanian NGO to support free initiative and reunite the business and political communities in an attempt to support civic development. A prominent liberal figure, Patriciu withdrew in 2003 from the Parliament and from active political life to concentrate on his business ventures. He was one of only three Romanian MPs to do so when new legislation made it incompatible for elected officials to also control significant business holdings. He remains attuned to the political life of Romania and is a keen supporter of pro-business and liberal development policies in the country.
Patriciu also serves as the Chairman of the Alliance of Romanian Employers’ Confederations, the Romanian member of UNICE
UNICE
UNICE may stand for :* abbreviation of the former name of BUSINESSEUROPE, ‘Union of Industrial and Employers' Confederations of Europe’, a Brussels-based European association of industries and employers....
, the Confederation of European Business. In addition to TRG, he is a shareholder in several entities including a building & real estate company and a media holding.
Recent Events
Patriciu served as a co-chair for the 2011 Atlantic CouncilAtlantic Council
The Atlantic Council is a Washington, D.C. think tank and public policy group whose mission is to "promote constructive U.S. leadership and engagement in international affairs based on the central role of the Atlantic community in meeting the international challenges of the 21st...
Annual Awards Dinner which included notable speakers such as Joe Biden
Joe Biden
Joseph Robinette "Joe" Biden, Jr. is the 47th and current Vice President of the United States, serving under President Barack Obama...
, Muhtar Kent
Muhtar Kent
Muhtar Kent is a Turkish business executive. He is the Chairman and Chief Executive Officer of The Coca-Cola Company. He was appointed to assume the position of Chief Operating Officer of the Company in 2008.-Early life:...
, Placido Domingo
Plácido Domingo
Plácido Domingo KBE , born José Plácido Domingo Embil, is a Spanish tenor and conductor known for his versatile and strong voice, possessing a ringing and dramatic tone throughout its range...
, Charlie Rose
Charlie Rose
Charles Peete "Charlie" Rose, Jr. is an American television talk show host and journalist. Since 1991 he has hosted Charlie Rose, an interview show distributed nationally by PBS since 1993...
, Colin Powell
Colin Powell
Colin Luther Powell is an American statesman and a retired four-star general in the United States Army. He was the 65th United States Secretary of State, serving under President George W. Bush from 2001 to 2005. He was the first African American to serve in that position. During his military...
, and James G. Stavridis
James G. Stavridis
James G. Stavridis is a United States Navy admiral who serves as the current Commander, U.S. European Command and NATO's Supreme Allied Commander Europe . The first Navy officer to hold these positions, he assumed command in early summer 2009. He previously served as Commander, U.S...
among others.
In May 2011, his real-estate company Dinu Patriciu Global Services appointed Ioana Momiceanu as Head of Asset Management for the Romanian DPGP Portfolio and sold offices in Sweden to Hemfosa Fastigheter in a deal estimated around 100 million euros. The company is said to currently control 117 real estate assets across five European Union member countries: Germany, Romania, Poland, the Netherlands and Belgium.
In this same month, Patriciu's retail company Mercadia Group has invested a half million EUR in re-branding the MiniMax discount store chain
Minimax (disambiguation)
Minimax, minmax, or min-max can refer to:* Minimax, a strategy in decision theory and related disciplines concerned with minimizing the maximum possible loss* Minimax , a European children's TV channel...
as Macro in Romania.
External links
- Articles in Ziarul Financiar about Dinu Patriciu
- fundatiadinupatriciu.ro – Fundatia Dinu Patriciu / The Dinu Patriciu Foundation website (in Romanian, partly in English)
- Cariere, Februarie 2008 - Dinu Patriciu - Petrol pentru EDUCATIE