Gazprom to buy out GdF's stake in VNG
Nov 27, 2009 01:00 AM
Russian gas export monopoly Gazprom will buy out French utility GdF Suez's 5.26 % stake in eastern German gas group
VNG, Gazprom and GdF announced.
A source familiar with the deal estimated GdF's stake was worth EUR 150-EUR 200 mm ($ 224-$ 299 mm).
The two companies also said that they were in talks for GdF to take a 9 % stake in the Nord Stream pipeline under the
Baltic Sea.
In buying out the GdF Suez stake in VNG, Gazprom is doubling its stake. It currently holds 5.3 % of VNG.
