Gazprom to Sell Half of Gazprom Geofizika

October 4, 2013

Shares of Gazprom Geofizika, which are owned by Gazprom, will be auctioned off. It is planned to sell more than 24,000 ordinary shares worth 51% of the company capital.

The Russian authorities have already approved the deal, according to the government's official website. The starting price of the stake will be calculated after independent expert studies. It many not be lower than market prices.

Gazprom Geofizika sells mainly oil industry services and geophysical works. Gazprom's subdivisions are its customers. Over 21% of the company belongs to Alisher Usmanov through Faktoring-Finans, which is a subsidiary of Gazprominvestholding.

Copyright: ProNedra, 2013.