CEO: Russia’s VEB to sell 2.7% of Gazprom ADRs

MOSCOW, Jun 23 (PRIME) -- The supervisory board of Russian state-run development bank Vnesheconombank (VEB) has approved a deal to sell American Depositary Receipts (ADRs) of gas giant Gazprom and the bank plans to close the deal, VEB CEO Sergei Gorkov told reporters on Thursday.

“Today the supervisory council made a decision on this deal, it approved it. It has not been closed yet, we will close it,” he said.

Earlier VEB’s Deputy CEO Andrei Klepach said that the development bank plans to sell 2.7% of Gazprom’s ADR’s.

Russian Economic Development Minister Alexei Ulyukayev said earlier in the day that Gazprom may purchase the securities.

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