| 2009-04-23 |
Published: RIA Novosti |
ITERA Oil and Gas Company expect buying Akron’s participation in Sibneftegaz, - Vladimir Makeyev, Head of the Management Board of ITERA told a Press-Conference on April 23.
ITERA is currently holding a 28% participation in Sibneftegaz, while Akron’s participation is 21%, and that of Gazprombank is 51%. Akron had repeatedly declared its plan to leave the enterprise. Akron views the enterprise as a non-core asset. In recent time it did not take part in corporate decisions and financing an investment program. According to Mr. Makeyev, Sibneftegaz plans its budget for the current year in an amount of two billion rubles thanks to ITERA and Gazprombank.
Alexander Krasnenkov, Head of the Board of Directors of Sibneftegaz, also confirmed that ITERA was likely to buy out Akron’s participation. "The only shareholder interested to buy is ITERA", - he said.
Sibneftegaz plans an additional emission for the amount of Rub 10-14 billion before end of the current year. "Regarding this issue we now see progress, and now we see a setback due to the crisis. The impression, though, is this issue is going to be settled before this yearend", - Krasnenkov said. Sibneftegaz invites all shareholders, Akron included, to participate in the additional emission, - he pointed out.
"Akron enjoys all the rights other shareholders enjoy. Their interests had never been infringed by anyone", - Krasnenkov said.
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