Gaz International Sells Its Siberian Oil Operations to Local Company
ZURICH-Yevgeni Star, a mid-sized Russian oil company, has bought the Siberian oil and gas operations of Zurich-based Gaz International. While no official figures have been released by either firm, the deal is believed to worth in the vicinity of $145 million.
Until recently, Gaz International had been seeking to expand its exploration and refining operations, but it has reportedly been frustrated by local regulatory bodies. Gaz International shares rose by 1% as news of the sale filtered into the media.
Yevgeni Star, which has some cross-share holdings with large industrial corporations in related and unrelated fields, notably in the energy and shipbuilding sectors, will become one of Russian’s leading players in the vital strategic area of energy supplies.
Explaining the reasons for the sale, Gaz International CEO Fritz Faschier told reporters yesterday, &q
A. Both companies want to take it slow.
B. Some complications have surfaced regarding legal issues.
C. The Russian authority usually takes a long time to process a new license.
D. There are many details to be discussed.
Gaz International Sells Its Siberian Oil Operations to Local Company
ZURICH-Yevgeni Star, a mid-sized Russian oil company, has bought the Siberian oil and gas operations of Zurich-based Gaz International. While no official figures have been released by either firm, the deal is believed to worth in the vicinity of $145 million.
Until recently, Gaz International had been seeking to expand its exploration and refining operations, but it has reportedly been frustrated by local regulatory bodies. Gaz International shares rose by 1% as news of the sale filtered into the media.
Yevgeni Star, which has some cross-share holdings with large industrial corporations in related and unrelated fields, notably in the energy and shipbuilding sectors, will become one of Russian’s leading players in the vital strategic area of energy supplies.
Explaining the reasons for the sale, Gaz International CEO Fritz Faschier told reporters yesterday, &q
A. It is a Russian-owned company.
B. It took control of another company.
C. Its stock price has slipped due to a false rumor.
D. It was involved in a multi-million dollar transaction recently.
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