Receive our newsletter – data, insights and analysis delivered to you
December 2, 2010

Russia’s VEB Upholds Gazprom Stake

Russia's Vnesheconombank's (VEB) is reiterating its recent acquisition of a 2.7% stake in Gazprom as a long-term strategic investment, according to VEB head Vladimir Dmitriyev. VEB has purchased the stake in the country's largest state-controlled gas export monopoly from E.ON Ruhrgas.

By cms admin

Russia’s Vnesheconombank’s (VEB) is reiterating its recent acquisition of a 2.7% stake in Gazprom as a long-term strategic investment, according to VEB head Vladimir Dmitriyev.

VEB has purchased the stake in the country’s largest state-controlled gas export monopoly from E.ON Ruhrgas.

VEB head Vladimir Dmitriyev told RIA Novosti that they are not intending to sell it, because it is a long-term investment.

“We have acquired this stake to manage our surplus liquidity as a strategic investment,” Dmitriyev said.

E.ON Ruhrgas had held a total 3.5% stake in Gazprom and sold the remaining 0.8% stake in the open market.

Content from our partners
Green investment: What gives Scotland multiple advantages
How Hengst helped to keep Germany’s charity “star singers” shining
How one power station prevented frequent shutdowns with three-stage air filtration
Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU