Russia's national development bank Vnesheconombank (VEB) is likely to repurchase German E.ON Ruhrgas' share in gas giant Gazprom, a source in Russia's Energy Ministry said on Thursday.
E.ON Ruhrgas is the main foreign shareholder in Russia's gas monopoly Gazprom with a 3.5 percent stake in the company, worth around $4 billion at today's share price.
"We proceed from the fact that E.ON is willing to sell. In this connection, we need to decide on how to repurchase the stake," the source told reporters, adding that one of the options was a repurchase by VEB.
The source said it would be undesirable if Gazprom itself repurchased the share package.
"There will be clarity on the deal in the near future," the source said, adding that VEB should structure the deal.
Kommersant business daily said yesterday both companies expected the deal to be approved by Russia's Prime Minister Vladimir Putin and Germany's Chancellor Angela Merkel who will meet on Friday to discuss bilateral trade and economic cooperation.
MOSCOW, November 25 (RIA Novosti)
