VEB’s Supervisory Board approved the sale of ADR “Gazprom”

The Supervisory Board of Vnesheconombank (VEB) has approved the sale of American Depositary receipts (ADR) Gazprom, told journalists the Chairman of the Bank Sergey Gorkov, reports “Interfax”.

“Today we received the decision of the Supervisory Board on the deal, the approval of the Supervisory Board received,” he said.

Earlier in the day the Minister of economic development Alexei Ulyukayev said that “Gazprom” is not the only contender for the redemption of their ADR VEB. He said that this decision will be made soon, gave the Agency “RIA Novosti”.

The first Deputy Chairman of VEB Andrei Klepach said about the decision of the VEB to sell the package of shares of “Gazprom” in late may on the sidelines of the Astana economic forum. However, he said that the terms of the sale are agreed.

May 20, “Kommersant” reported that “Gazprom” will redeem VEB all of 3.6% of their shares, their cost is 132 billion. we are Talking about the sale of 2.7% of the ADR of Gazprom, as well as 0,892% in the form of ordinary shares purchased in 2007.

As told RBC source in the government and two sources close to VEB, to buy a stake to VEB, Gazprom may itself “Gazprom” or svyazanna with the company. Such a move, according to analysts, will help the Bank to solve the financial problems. A government source said that if the deal falls through, the second buyer can become “Rosneftegaz”.