Joint Press Release of BASF and Gazprom
Asset swap between BASF and Gazprom largely completed
BASF subsidiary Wintershall participates in Western Siberian natural gas field Yuzhno Russkoye. Gazprom increases shareholding in joint natural gas trading company WINGAS GmbH
© BASF.com - Pubblicata il 25.10.07
Ludwigshafen/Moscow: BASF Aktiengesellschaft and Russian company OAO Gazprom
have today (25.10.2007) largely completed their asset swap by legal transferring
their respective shareholdings.
BASF's wholly-owned subsidiary Wintershall has received a shareholding of 25
percent less one share in the company OAO Severneftegazprom (SNGP), which holds
the license to the Yuzhno Russkoye natural gas field in Western Siberia. In addition,
Wintershall has received a preferred share without voting right in OAO Severneftegazprom.
This will give BASF an interest of 35% in the economic rewards of SNGP. The issue
of shares has been registered. In return, OAO Gazprom has increased its shareholding
in the joint natural gas trading company WINGAS GmbH to 50 percent less one share
from previously 35 percent. The remaining part of the asset swap will shortly be
put into effect.