Russia sets bid dates for Gazprom stake

Article Abstract:

Gazprom will be put on sale by the government of Russia, which will accept takeover offers for a 2.5% interest in the natural gas concern from Nov. 2, 1998, until Dec. 16, 1998. Likewise, the Russian government, which set on Nov. 4, 1998, the starting price at $651 million, will reveal the results of the bidding on Dec. 19, 1998. The cash-starved government, which has been boosting its revenue through privatization, has already included the expected proceeds from the sale of Gazprom stake in its revenue in the last quarter of 1998.

Comment:

The Russian govt will accept bids for a 2.5% stake in this co from 11/2/98 to 12/16/98

Asset sales & divestitures, Article

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Ruhrgas wins 2.5% in russia 's tender of gazprom shares

Article Abstract:

On December 19, German gas co. Ruhrgas bid US$660m and won a tender for 2.5% of Russian natural gas co. Gazprom. The government plans to sell another 2.5% of Gazprom by the end of the year. The sale was part of Russia's privatisation plan, which will include telecoms and oil companies. The government now owns about 37.5% of Gazprom.

Comment:

Russia: German gas co. Ruhrgas bids US$660m & wins tender on Dec. 19 for 2.5% of Russian natural gas co. Gazprom

Acquisitions & mergers, Germany, Organizational history, Former Soviet Union, Securities, Ruhrgas AG

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Russia asks Gazprom to reduce proposal for 2002 investment

Article Abstract:

Gazprom is expected to reduce its 2002 investments by as much as 21 billion rubles (770.5 million euros). The Russian government believes the company will lower investments for the year to 140 billion rubles.

Capital expenditures, Gas industry, Gazprom Russian Joint Stock Co.

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