April 11, 2014 12:04
Transneft spent 8.1 bln rubles on 10.5% of NCSP shares last autumn - report
MOSCOW. April 11 (Interfax) - Transneft (MOEX: TRNF) has disclosed the total amount the company spent last autumn in increasing its stake in OJSC Novorossiysk Commercial Sea Port (NCSP) (MOEX: NMTP), the Russian oil giant said in its yearly report published Friday.
Transneft bought 8.19% more ordinary stock in NCSP for 6.355 billion rubles in October. Additionally, the report says Transneft acquired 10.52% of NCSP in September-October for 8.104 billion rubles, boosting its effective stake in NCSP to 35.57% from 27.38%.
Based on the dollar's exchange rate as of autumn of last year, this totals around $250 million, meaning that Transneft spent less on the shares than the $300 million reported by the media at that time. This is not very significant though, Transneft President Nikolai Tokarev has said.
Tokarev said this was not the real price, and everything had been written by people who were offended. "It's necessary to divide what's in the paper by one and a half," he told journalists in October, commenting on the reported $300 million figure.
Tatneft said in its report that because of a significant decrease in the market value of NCSP shares as of the reporting date, and due to continuing decline after the reporting date, the group had impairment losses on the investment of 14 billion rubles.
(Our editorial staff can be reached at firstname.lastname@example.org)
January 24, 2017
SYRIAN GOVERNMENT READY TO SIT DOWN WITH OPPOSITION FOR SAVING COUNTRY - AL-JAAFARI
Syrian opposition hopes Russia will continue its involvement in establishing peace in Syria
Moscow, Tehran, Ankara to cooperate on Astana platform for settling Syria crisis - statement
Dadin's appeal with Russian Constitutional Court shall not be upheld - presidential envoy (Part 2)
Rosatom applies to bid in South African nuclear plant tender - Likhachev
Daily Headline News for January 24, 2017
NATO delegation arrives in Ukraine
Armenian PM brings new proposals on Russian capital involvement to Moscow
Official exchange rates for CIS and Baltic nations as of 24.01.2017
SOKOLOV: HEAD OF EGYPT'S AVIATION MINISTRY TO VISIT RUSSIA EARLY FEBRUARY, INCLUDING TO DISCUSS REINSTATING FLIGHTS
Guarantor countries acknowledge Syria's integrity, sovereignty - joint statement
LIKHACHEV: ROSATOM HAS APPLIED TO BID AT TENDER TO BUILD NUCLEAR POWER PLANT IN SOUTH AFRICA
Gazprom to seek reciprocal injunctions on OPAL to safeguard revenue (Part 2)