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From left to right: Alexey Miller and Sergey Bogdanchikov |
Gazprom’s Management Committee Chairman Alexey Miller and Rosneft’s President Sergey Bogdanchikov’s official statements on the Gazprom and Rosneft merger, broadcast on March 2 by the NTV and First Channels.
Alexey Miller:
"We’ve come up with a final resolution on the Gazprom and Rosneft merger scheme placing Gazprom’s controlling stake in the hands of the State in exchange for 100% of shares in Rosneft excluding Yuganskneftegaz.
The State-owned controlling stake in Gazprom implies the commencement of the Gazprom’s share market liberalization. Consolidating Rosneft and Gazprom’s assets means re-enforcement of Gazprom’s standing in the oil sector, allowing the company to convert into a prominent global energy firm within the shortest period possible.
The merger scheme has undergone scrupulous development, with due governmental decisions made to withdraw Rosneft’s equity from strategically crucial firms and with the Rosneftegaz company incorporated to accumulate 100% of shares of Rosneft and a stake of Gazprom necessary for the State to hold a controlling stake in Gazprom.
The de jure and de facto integration of the two companies will take place in the nearest future.
Yuganskneftegaz, an independent state-run oil company to be headed by Sergey Mikhailovich Bogdanchikov, will closely cooperate with Gazprom in the petroleum sector, with all the matters relative to technological ties and commitments to foreign suppliers and partners to be resolved in full.”
Sergey Bogdanchikov:
“The work performed by Rosneft and Gazprom over the recent months has ended up in a substantial achievement, i.e. today’s endorsement of the Rosneft and Gazprom asset exchange scheme. This move allows the State to obtain Gazprom’s controlling stake, open way towards the company’s share market liberalization and considerably expand its oil business.
We feel committed to our counterparts and, from now and onwards, are positive to fulfill all our responsibilities, including under the inter-governmental agreements involving Rosneft.”
Alexey Miller’s comments on Rosneft’s debentures given at the 3 March RF Government’s meeting:
“Together with the RF Government, we’ll have to resolve the issue of Rosneft’s debentures including old and new ones as well as to determine how many of those will be redeemed by the integrated company.”