Gazprom will ask to purchase its own shares to support VEB

Gazprom will ask to purchase its own shares to support VEB

Moscow. April 7. Gazprom may be asked to buy a package of its own shares from VEB to help solve his financial problems, Bloomberg reports, citing unnamed sources.

This is one of the options being discussed, no solutions, as there is no certainty that the deal will happen this year, said the news Agency.

EconomyMarch 30 2016Улюкаев did not see the solution of problems of VEB with the sale of shares of “Gazprom”Read more

VEB owns 2.7% of Gazprom, this share was acquired in 2010-2011 at E. ON. On the market periodically discussed the rumors about the possibility of selling this and another liquid asset of the web of a minority stake in RUSAL, but so far no real steps in this direction were not. As shares were acquired under different conditions and now are much cheaper, their sales will force the web to reflect losses in its financial statements. According to a source, the former management of VEB’s estimated losses from the sale of a package “Gazprom” in current market conditions is about 200 billion roubles.

Possible sale of VEB shares “Gazprom” is not “pointless”, but does not solve the fundamental problems of the Bank, said recently the Minister of economic development of Russia Alexey Ulyukayev.

The new head of Vnesheconombank Sergey Gorkov this week reported that the Bank in the case of a decision on the sale of its owned ADR “Gazprom” is not going to sell them on the market. “We are still in negotiations. We are studying all possibilities, but no solution yet. We are in the market still will not go,” said Gorkov journalists.

Thus, according to his first Deputy Nikolai zemskogo, price, “naturally, will be linked to the market.”

“These shares in any case, overvalued by the market, when you sell at market price you will be loss in the statement of profit and loss, but the capital will not be affected. We have no covenants on profit, there are capital, so from the point of view of capital is a neutral transaction,” he said, noting that the sale will take place this year.