Thursday, June 22, 2006
Gazprom unveils earlier bid for Udmurtneft
RBC, 22.06.2006, Moscow 15:17:54.- Gazprom was offering $2.7bn for Udmurtneft, Gazprom's Deputy CEO and Gazprom Neft President Alexander Ryazanov told a press conference today, commenting on TNK-BP's agreements with China's Sinopec and Rosneft for the sale of Udmurtneft. Gazprom was not ready to pay more than that, and by the time it had reached an understanding with Hungary's MOL with regard to the acquisition of Udmurtneft, TNK-BP, Sinopec, and Rosneft must have already struck a deal, Ryazanov stressed. According to him, Gazprom and MOL had agreed on the following payment plan: Gazprom was to pay $1.25bn for a 50-percent stake, and MOL $1.75bn for the other 50 percent.