Source Pravda.Ru

Gazprom backs out of National Reserve Bank

Russia's gas monopolist Gazprom sold its share in the registered capital of the National Reserve Bank (NRB). According to the Gazprom press service, an agreement on the withdrawal of the company from (NRB) has been signed in Moscow recently. An official press release says his step was made in line with Gazprom's policy aimed at the restructuring of non-profitable assets. "For the first time in modern Russian history, a major shareholder exercised its right to pull out of the registered capital of one of the country's leading banks and capitalize on this," says an official press release. At the same time Gazprom and the National Reserve Bank will remain partners. The estimated size of Gazprom's stake in the NRB registered capital is about 30 percent.

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