Energy Industry
Industry: Email Alert RSS FeedRUHRGAS OWNS 6.4% OF GAZPROM AND WANTS 10%.
Europe Energy, June, 2003
German gas company Ruhrgas has increased its share in Russian gas company Gazprom to 6.4% from around 6% before the deal, and plans to increase its share, by "careful steps" to 8%-10%, said CEO Burckhard Bergmann. The purchase price for half a percentage was valued at USD100-150 million, he added.
Mr Bergmann considers that they are "on the right road" to fulfilling conditions set by the German government to get authorisation for a take over by the EON energy group. Enough candidates are interested in the take over of these shares in VNG, Bayerngas and the local company Breme, he said, to begin detailed discussions.
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