MOSCOW, December 28 (RIA Novosti) - Russia's Federal Anti-Trust Service will most probably allow the French company Total to go ahead with its plan to buy a stake in Novatek, an independent Russian producer of natural gas.
The issue is currently under consideration, and will most likely be solved in Total's favor, Anatoly Golomolzlin, Deputy Head of the Federal Anti-Trust Service, told reporters Tuesday.
In late September 2004, the Total group announced its intention to buy a 25 percent stake plus one share in Novatek. No financial details of the prospective deal are known at this point, but according to media reports, it is unlikely to exceed 1 billion dollars.
Novatek's major shareholders include Levit (49.2 percent), SWGI Growth Fund (37.5 percent), and the non-profit Regional Foundation for Yamal Development (7.6 percent). Minor shareholders own the remaining 5.7 percent of the Novatek stock.
