The Head of Itera Igor Makarov gives his business to the state, though hopes for revival

Itera is under control of the state. Rosneft, which holds 51% of the company,has purchased the share of its founder Igor Makarov and his partners appr. for $3 billion. The businessman hopes to revive gas business under the same brand.

The investment committee of Rosneft approved the purchase of 49% of Itera from Igor Makarov and his partners, the sources acquainted with the situation reported. The transaction will amount to about $3 billion and will be closed within 1-2 months, one of the sources specifies. Rosneft and Itera provide no commentaries. The structures of Makarov hold the share in Itera via Itera Holding LLC. Senior vice-President of Itera Group Vladimir Makeev is one of the partners. In 2011 it became known that the family of the Head of Rostekh Sergey Chemezov held about 5% of Itera. Chemezov confirmed, there was a shareholding, though it had reduced to 1.1% which would also be sold. “Currently neither Yekaterina Ignatova (the spouse of Chemezov) nor any affiliated structures hold Itera. Ignatova used to hold the minority share in the corporation, though it had been sold two years ago”, Rostekh reported yesterday.