OREANDA-NEWS. Represented by ZGG GmbH OAO Gazprom has closed the deal to purchase 19.4 per cent of OAO NOVATEK’s outstanding ordinary shares from OOO LEVIT and SWGI GROWTH FUND (CYPRUS) LIMITED (the major shareholders of NOVATEK).

The deal will result in two representatives of Gazprom entering the NOVATEK Board of Directors and this, under the NOVATEK Charter, will give the new shareholder sufficient rights to participate in the company’s management. A NOVATEK equity stake to be owned by Gazprom and its affiliates won’t exceed at any given time 19.9 per cent of NOVATEK’s outstanding shares.

The parties pursue the objective of further expanding the business activity of NOVATEK covering the field development and resource base growth sectors. Additionally, NOVATEK will receive the opportunity to get involved in the gasification of Russian regions.