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 email@example.com)
February 13, 2016
Iran still considering gas supply routes to Georgia; Gazprom cooperation most likely option - Iranian ambassador
NATO vulnerability fears nothing serious - Grushko
Kasyanov postpones meetings with public in N.Novgorod
Ulyukayev expects Russia's annual inflation to drop in February to 8.3-8.4%
Poroshenko, Kerry discuss need to keep Russia sanctions in place
Composition of Syrian negotiating team must be decided by Syrians - U.S. State Dept official
Kosachyov conditions end of Russian air campaign to truce between Damascus, opposition
Renova keen on privatizing non-energy assets, in particular Alrosa - Vekselberg
Kerry, Lavrov discuss measures on U.S.-Russian military coordination in Syria
VTB chief Kostin plans to sue WADA
Patriarch-pope meeting good example of possible West-Russia rapprochement - Medvedev
LAVROV, KERRY DISCUSSED STEPS TO IMPLEMENT AGREEMENTS ON MILITARY COORDINATION IN SYRIA - RUSSIAN FOREIGN MINISTRY
LAVROV-KERRY MEETING FOCUSED ENTIRELY ON SYRIA, IMPLEMENTATION OF MUNICH COMMUINIQUE - RUSSIAN FOREIGN MINISTRY