PRESS: Gazprom to buy Stroygazmontazh, Stroitransneftegaz

MOSCOW, Mar 29 (PRIME) -- Affiliates of Russian gas giant Gazprom are negotiating an acquisition of its largest contractors, Stroygazmontazh from Arkady Rotenberg and Stroitransneftegaz from Gennady Timchenko, RBC reported on Friday, citing sources close to Gazprom.

Both companies were contractors during construction of the Sila Sibiri pipeline and are participating in construction of the Nord Stream-2 pipeline.

A source told RBC that a final decision on both deals has already been made. The companies will be purchased by Gazstroiprom, Gazprom’s unit, where it owns 49% while Gazprom’s affiliate Gazprombank and individuals share 51%.

If the deals are signed, Gazpstoiprom, which already owns Stroigazconsulting, will become Gazprom’s largest contractor. The total amount of orders by Gazprom to the three companies made almost 1.5 trillion rubles in 2018.

(64.8012 rubles – U.S. $1)

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