Gazprom Moves Novatek Stake Back Home

摘要

Gazprom’s board of directors in early June approved the transfer of the company’s 9.9% stake in Novatek to a Russia-based subsid- iary from an offshore unit in Cyprus. The state-run gas giant will transfer 303.3 million Novatek shares worth around $4.5 billion to domestically registered Gazprom Capital. Previously the shares were held by Gazfin Cyprus.