MOSCOW, July 19 (RIA Novosti) - Gazprom [RTS: GAZP] has offered in a letter to buy a 20% stake in Gazprom Neft [SIBN], formerly known as Sibneft, from embattled crude producer Yukos [YUKO], a source said Wednesday.
He said Russian energy giant Gazprom had sent the letter Tuesday after examining a plan for Yukos' financial rehabilitation, which includes the company's intention to sell the stake in Gazprom Neft.
The source said Gazprom proposed discussing a reduction in the price of the stake as set out in Yukos' financial rehabilitation plan. "Gazprom will offer to discuss a mutually acceptable price at negotiations," he added.
"Gazprom believes that the deal is in line with the interests of Yukos, its shareholders and creditors," the source said.
If the sides strike a deal, it will have to be coordinated with an interim manager appointed by an arbitration court, the source said.
Yukos has valued its stake in Gazprom Neft at $4.2 billion.
Gazprom bought a 72.66% stake in the former Sibneft from Roman Abramovich's investment vehicle Millhouse Capital in September last year for $13.1 billion. Combined with 3.016% of the company's shares the energy giant had earlier purchased from Gazprombank, it currently owns 75.679% of Gazprom Neft.
