Gazprom earns RUB 45.2 billion from selling non-core and inefficient assets

Gazprom earns RUB 45.2 billion from selling non-core and inefficient assets

The Gazprom Board of Directors took note of the report on the progress of the Program for the disposal of non-core assets, which had been developed for a three-year period from the second half of 2013 through the first half of 2016.

It was highlighted at the meeting that Gazprom pursued a systematic strategy to sell its non-core and inefficient assets. Over the period from 2013 through the first quarter of 2016, the Company earned a total of RUB 45.2 billion from selling those assets. Gazprom disposed of, inter alia, shares and stakes in various companies, non-business assets, and movable property.

The Board of Directors approved a new Program for the disposal of non-core assets during another three-year period, from the second half of 2016 through the first half of 2019.

The Board of Directors also approved the updated Gazprom Innovative Development Program.

The Board of Directors reviewed and took note of the information on the Company’s strategy for international development and asset acquisition, as well as on the implementation of the Russian Government’s Resolution No. 2016-r dated November 13, 2010, concerning the acquisition of shares in gas distribution companies.
Source:  http://www.gazprom.com/press/news/2016/june/article277183/

Leave a Reply

Your email address will not be published. Required fields are marked *