Gazprom’s unit buys 3.6% in parent company from VEB

MOSCOW, Jul 19 (PRIME) -- Gazprom Gazoraspredeleniye, a unit of Russian gas giant Gazprom, has bought a 3.59% stake in the parent company from state development bank Vnesheconombank (VEB), as seen by PRIME in Gazprom’s materials on Tuesday.

“Gazprom Gazoraspredeleniye bought 211.162 million common shares and 319.714 million American depositary receipts (ADRs) of Gazprom’s shares on July 15,” the materials read.

No other details of the deal were provided.

In June, Gazprom Deputy CEO Andrei Kruglov said that the company plans to close an acquisition of about 130 billion rubles worth of its ADRs from VEB until the end of July. Gazprom will not cancel the ADRs after the purchase, he said.

(63.1154 rubles – U.S. $1)

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