Directive No 1770-r of October 1, 2013
The document was drafted by the Ministry of Economic Development in execution of Presidential Executive Order No 596 of May 7, 2012 On Long-Term State Economic Policy and also in order to improve the corporate structure of the Gazprom Group and its efficiency. It was decided to sell Gazprom’s stake in the Gazpromgeofizika subsidiary.
Currently, Gazprom owns 24,071 shares, or 51% of Gazpromgeofizika’s statutory capital.
Under Presidential Executive Order No 1333 of November 5, 1992, the above-mentioned shares were contributed to Gazprom’s statutory capital by the Russian Federation.
Therefore, under Clause 3 of Article 39 of federal law On the Privatisation of State and Municipal Property, the Government of the Russian Federation is required to authorise the sale of Gazprom’s stake in Gazpromgeofizika.
The sale of Gazprom’s non-core assets will create favourable conditions for improving corporate structure and efficiency.
