Novatek has reduced its stake in Artic Russia B.V. from 20% to 13.6%
Edited by Rhod Mackenzie / 2015-08-04 01:10:54
Novatek has reduced its stake in Artic Russia in the framework on execution of the agreement on parity ownership of JV “SeverEnergy” with Gazprom Neft. Further steps upon reaching a parity ownership of SeverEnergy are expected to be completed in early 2016.
Novatek OJSC has reduced its direct stake in Artic Russia B.V. from 20% to 13.6%, the company reported.
The right to control these shares expired on August 3rd.
In Novatek’s H1 report under IAS is said that in July Novatek and Gazprom Neft approve another stage of restructuring aimed for the reaching of the parity ownership of JV.
