Support The Moscow Times!

9.4% Novatek Stake Sold

Novatek said Monday that Gazprombank acquired a 9.4 percent stake in the fuel producer from state-

controlled Gazprom.

The lender gained the stake through an investment vehicle, Dhignfinolhu Holding, Novatek said in a regulatory filing, without disclosing the price. Gazprom owns less than a controlling 50 percent stake in Gazprombank, according to their web sites.

Gazprom doesn’t plan to cut its stake below 10 percent, chief executive Alexei Miller said Nov. 13. The company bought 19.4 percent of Novatek in September 2006.

(Bloomberg)


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.