Friday, July 17, 2015

PGNiG already controls Gas-Trading – Republic

Source: Bloomberg

Gas Asset Management, a subsidiary of PGNiG, completed the acquisition of 36.17 per cent. shares of Gas-Trading of Bartimpex – the company said in a statement.

PGNiG obtained in this way an additional 4 percent. EuRoPol Gaz shares of the company – the owner of the Polish section of the Yamal gas pipeline.

PGNiG Group currently holds 79.58 per cent. shares of Gas-Trading and took control of it – 43.41 percent. the stock has PGNiG, and 36.17 percent. shares are owned by Gas Assets Management.

As stated in the message, the consequence of this transaction is also indirectly controls an additional 4 percent. EuRoPol Gaz shares of the company (the owner of the Polish section of Yamal-Europe), which means that PGNiG currently holds a total of 52 per cent. the company’s shares. The remaining shares are Russia’s Gazprom.

Permission for the acquisition by Gas Assets Management control over foreign trade enterprises Bartimpex, as well as by the Polish Oil and Gas and Gas Assets Management of the company, Gas-Trading issued in May, the Office for Protection of Competition and Consumer Protection.

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