Gazprom to complete asset swap with Wintershall soon

Jun 14, 2007 02:00 AM

Gazprom will complete the asset swap with Wintershall, a subsidiary of BASF, whereby BASF will join the development of the Yuzhno Russkoye field, in the near future, Deputy Chairman of Gazprom's Management Committee, told.
As reported earlier, the asset swap agreement between Gazprom and BASF signed in April 2006 says that Wintershall will receive 25 % minus one voting share and 10 % of non-voting stock in Severneftegazprom, while Gazprom will boost its stake in the joint venture Wingas from 35 to 50 % minus 1 share and gain a shareholding in a company of Wintershall AG Group.

Source: RosBusinessConsulting
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