21 April 2004 02:28
Gazprombank to sell 25% stake in RKS
MOSCOW. April 21 (Interfax) - Gazprombank has accepted a proposal from United Financial Group, who are acting on the
interests of their clients, to sell its 25% stake in Russian Communal Systems (RKS), the bank said in a press
release.
In the current agreement between Gazprombank and RKS, the bank performs settlement services and daily monitoring of
money flows for the company. Gazprombank opened lines of credit for various RKS projects.
Gazprombank aims to optimize its investment portfolio, but in selling RKS shares it will not pull out of the RKS
project completely, the release says.
Russian Communal Systems was established in May 2003 as part of housing and utility reforms. It was founded by
Gazprombank, Unified Energy System (25%), Evrazholding (10%), Evrofinance (10%), Interros (10%), Kuzbassrazrezugol
(10%), and Renova (10%). [RU ASIA EUROPE EEU EMRG BNK ELG MRG STX] me
[Interfax] |
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