Monopoly Money
MOSCOW (Bloomberg) -- Gazprombank asked its parent company, Gazprom, to buy a 5.3 percent stake in Unified Energy Systems that the bank bought on Gazprom's behalf in January, Kommersant reported, citing Gazprombank CEO Andrei Akimov.
The bank asked Gazprom to purchase the shares for 14.3 billion rubles ($493 million), the paper reported, citing a letter sent by Akimov to Gazprom CEO Alexei Miller.
Gazprombank, a unit of Gazprom, paid $1 billion to buy a 5.3 percent stake in UES, the country's dominant power utility, and a 15.76 percent stake in Mosenergo, UES's biggest subsidiary.
The bank exceeded its investment limit by purchasing UES shares, the paper said. |
