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17/04/2014
11:45
M&A: ALROSA fails to sell gas assets to Rosneft

There is a significant delay in the process of selling ALROSA's oil and gas assets to Rosneft, the Kommersant reported.

The parties are reportedly unable to agree on price. As estimated by ALROSA, the transaction completion may take another year to complete.

In 2013, Rosneft arranged for the purchase of a number of oil and gas assets from ALROSA in Yamalo-Nenets autonomous area and in the Sakha Republic / Yakutia, including 100-percent holdings in CJSC Geotransgaz, Urengoy Gas Company LLC, CJSC Irelyakhneft and 99.9995% of OJSC ALROSA-Gas shares. The acquisition price was set equal to $1.38 billion.

ALROSA intended to dispose of the gas assets before the end of 2013; this transaction was later postponed. Rosneft was estimating the productivity of some deposits and could call for negotiations regarding a revision of prices of these assets, the parties commented then.



"AK&M", 17.04.2014

 

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