“Gazprom” to buy back its shares from VEB 130 billion rubles. – RBC

Photo: Yekaterina Kuzmina / RBC

« Gazprom “to buy back 3.6% of its own shares from VEB” about “130 billion rubles., said the company’s CFO Andrey Kruglov. It’s almost 9% above their value on the stock exchange

«Gazprom» will buy 3.6% of its shares from Vnesheconombank (VEB) for about 130 billion rubles., Told the deputy chairman of “Gazprom” Andrey Kruglov, transmits ” Interfax “. The company expects to complete the deal by the end of July. On Wednesday, the package cost on the Moscow stock exchange 119 600 000 000 rubles. At 13.00 MSK company’s shares rose 0,75%.

«Gazprom» does not plan to repay the package and can use it as a financial instrument, for example, to place in Hong Kong, said a top manager.

«We can not allow such a large volume of shares simultaneously released to the market”, – said Kruglov. He poyacnil that said that “Gazprom” will buy all of VEB 3.6% in the evaluation of their package price used for a certain time period before the transaction and the rate of which the parties have agreed.

May 20, “Kommersant” shares. It was for the sale of 2.7%, which VEB bought in the form of American Depositary Receipts (ADR) in the German E.ON in 2010 and 0.892% in the form of ordinary shares, purchased in 2007. The publication reported that they acquire the four associated with “Gazprom” company.

June 23 it was reported that VEB’s supervisory board approved the sale of the ADR “Gazprom” (2.7% stake). But the buyer is not called. Economic Development Minister Alexei Ulyukayev said that “Gazprom” is not the only contender for the redemption of its ADR VEB. However, RBC government source and two sources close to the VEB, told that to buy a stake in the bank “Gazprom” can he “Gazprom” or the associated company. Such a move, according to analysts, will help to solve the financial problems of the State Bank. A source in the government elaborate on that if the deal falls through, the second buyer could be “Rosneftegas».