Today, Gazprom’s subsidiaries have completed the transfer of ownership of the 10.74% stake in Gazprom to Rosneftegaz.

Reference:

On June 23, this year, Rosneftegaz and Gazprom’s subsidiaries (Gazprombank, Gazprominvestholding, Gazfond and Gazprom Finance BV) clinched the deals on purchase & sales of Gazprom’s 2,542,500,000 shares, which is 10.7399% of the Company’s authorized capital.

The transactions will be settled in three tranches, with the first one due over a month period and the third, before 25 December 2005.

The funds required for the deal settlement will be raised by Rosneftegaz on the international capital market.

The transactions were endorsed by the Rosneftegaz’s Shareholders’ Meeting and Gazprom’s Board of Directors on 16 June 2005.

Increasing the state’s share in Gazprom’s authorized capital to a controlling stake marks the initiation of the Company’s share market liberalization.

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