Board of Directors agrees on acquisition of 50 per cent stake in Rosukrenergo AG
Message to the Media
The Board of Directors’ meeting is being held at Gazprom’s Headquarters.
The Board has agreed on Gazprom’s acquisition of a 50 per cent stake in ROSUKRENERGO AG from Gazprombank (a Gazprom subsidiary).
The transaction will be executed for the purpose of optimizing the Gazprom core asset management structure.
Given that Gazprombank had been involved in the foundation and operation of ROSUKRENERGO AG by order of Gazprom, the equivalent of Gazprombank’s total historical costs (total investments and interest, currency & administrative payments) was determined as a fair value of the ROSUKRENERGO shares.
Background
On January 16 Gazprombank’s Board of Directors made a decision to sell 50 per cent of shares in ROSUKRENERGO AG to Gazprom.
Set up in July 2004 as a 50/50 joint venture of Gazprombank and Raiffeisen Investment AG’s wholly owned subsidiaries, the Swiss-registered company ROSUKRENERGO AG started its business activity in January 1, 2005. The company oversees total Ukrainian gas imports.
Information Directorate, OAO Gazprom