25 April 2024
E.ON sells Gazprom stake for $4.5 billion
Publication date: 02 December 2010
Gas Strategies Group
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ISSN: 0964-8496
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E.ON Ruhrgas, a subsidiary of Germany's E.ON, has sold its 3.5% stake in Russian gas giant Gazprom for €3.4 billion ($4.5 billion) as part of a fund-raising process to finance the expansion of its business beyond Europe. Russian state bank Vnesheconombank (VEB) bought a 2.7% interest and E.ON sold the remaining 0.8% stake on the stock market.