A sale contract for a 49 per cent stake in gas utility SPP was signed yesterday between the Slovak government and representatives of the purchasing consortium – Gaz de France, Ruhrgas and Gazprom. While the first two companies will be splitting the purchase amount – $2.7 billion – between them, allegedly because of cash-flow problems at Gazprom, all three will have an equal say in the running of SPP. Gazprom has pre-emptive purchase rights on its one-third share of the stake for two years. The $2.7 the state earns on SPP, following the publication of tender documents on March 18 on the Privatisation Ministry web site, is $350 million more than privatisation advisor CSFB predicted the stake might fetch. CSFB had expected a sum of between $1.83 and 2.35 billion.
Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
19. Mar 2002 at 17:46