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)
June 26, 2017
Medvedev: 2018-2020 budget must support economic growth
Kazakhstan-based AllurGroup starts JAC car deliveries to Tajikistan
CENTRAL BANK OF RUSSIA RUBLE EXCHANGE RATES FROM 27.06.2017
Information that St. Petersburg attack plotters used Telegram gives rise to questions - Durov
Lenta distributes 332,400 new GDR for $1.96 mln among execs
RusHydro most likely to place Eurobonds for 10 bln-15 bln rubles in Sept - manager (Part 2)
Assistant Secretary Jones to represent U.S. in next round of Astana talks - source
Russia, Ukraine plan to sign new contract on uranium supplies in July-August - IUEC (Part 2)
Speakers of Eurasian countries' parliaments to gather in 2018 in Europe - Slutsky
KIRILL ANDROSOV DEPARTS AEROFLOT BOARD OF DIRECTORS, ASKED NOT TO BE NOMINATED FOR VOTE
Uzbek Central Bank hiking refi rate from 9% to 14% on June 28
Volodin to visit Baku at Azerbaijani colleague's invitation
Possibility of telephone talk between Normandy format leaders being explored via diplomatic channels - Peskov