East-Siberian Gas sells 5.49 in VChNG to TNK-BP for $48.8m | Siberia, Materials, extraction MarchmontNews.com

Siberia | Materials, extraction

East-Siberian Gas sells 5.49% in VChNG to TNK-BP for $48.8m

24 Nov '10
East-Siberian Gas Company has sold its 5.49% shares in Verkhnechonskneftegaz (VChNG), operator for exploration of Verkhnechoskoye oil and gas deposit in Irkutsk region, for $48.8m, Kommersant reports.

The buyer is TNK-BP Holding.

As a result of the deal, TNK-BP Holding has reportedly grown its share in VChNG to 74%.

Under the deal, part of the funds are to be given to Irkutsk region as a charity act, the newspaper said.