OREANDA-NEWS. April 12, 2013. ROSNEFTEGAZ and Gazprom signed a sale-and-purchase agreement for the shares in 72 gas distribution companies (GDC). The deal was signed pursuant to the Russian Government’s Resolution No. 2016-r dated 13 November 2010.

The transaction is worth 25.861 billion rubles. ROSNEFTEGAZ sold the GDC shares to Gazprom at their market price as assessed by the consortium of independent appraisers, who were hired by the two companies.

The agreement was signed as a result of the efforts taken by the Parties, Federal Agency for State Property Management (Rosimushchestvo) and other federal executive authorities over the last two years.

Furthermore, Gazprom is close to complete the takeover of Kamchatgazprom from ROSNEFTEGAZ in pursuit of Government Resolution No. 693 dated 19 May 2009.

ROSNEFTEGAZ has initiated consultations over the last gas distribution asset on its balance – Kaliningradgazifikatsiya. As soon as the shares of 72 GDC, Kamchatgazprom and Kaliningradgazifikatsiya are sold, ROSNEFTEGAZ will be deemed as having carried out its commitments, taken by order of the President of the Russian Federation, the Russian Government and the Board of Directors concerning the disposal of non-core assets.