Reference
The document was drafted by the Ministry of Economic Development.
As part of a set of measures to implement the Presidential Executive Order No. 596 of May 7, 2012 On Long-term State Economic Policy and orders to the representatives of the Russian Federation’s interests for the participation of state officials in boards of directors of joint stock companies, as well as to improve corporate structure and increase the efficiency of Gazprom Group, its non-core and inefficient assets as well as those used for purposes other than the Group’s main activities, will be sold. These include Gazprom’s shares in Tsentrgaz, Gazprom Avtomatizatsiya, and Spetsgazavtotrans.
Gazprom currently owns 807,067,013 shares (99.99% of the authorised capital) in Tsentrgaz, 773,595 shares (49.62% of the authorised capital) in Gazprom Avtomatizatsiya, and 498,112 shares (51% of the authorised capital) in Spetsgazavtotrans.
According to the Presidential Executive Order No. 1333 of November 5, 1992 these companies’ shares were included in Gazprom’s authorised capital as a state contribution.
According to Paragraph 3 of Article 39 of the federal law On the Privatisation of State and Municipal Property, the sale of Gazprom’s stake in Tsentrgaz, Gazprom Avtomatizatsiya, and Spetsgazavtotrans can be conducted only upon the Russian Government’s approval.