On June 23, Rosneftegaz and Gazpromís subsidiaries (Gazprombank, Gazprominvestholding, Gazfond and Gazprom Finance BV) clinched the deals on purchase & sales of Gazpromís 2,542,500,000 shares, which is 10.7399% of the Companyís 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 Rosneftegazís Shareholdersí Meeting and Gazpromís Board of Directors on 16 June, this year.
Increasing the stateís share in Gazpromís authorized capital to a controlling stake marks the initiation of the Companyís share market liberalization.
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