19.01.2006
"Interfax"
Prague. January 19. Interfax-Europe – Oil Company RussNeft OAO interested in buying the 49 percent stake of Yukos at Slovakian Pipeline Company Transpetrol may complete due diligence of the company in the beginning of the next week, Interfax was informed by Advisor to Slovakian Economics Minister Robert Beno.
“Initially January 16 was set as the time limit for completing the due diligence, however we (the Economics Ministry of Slovakia – IF) expect the due diligence to be completed in the beginning of the next week,” said R.Beno adding that RussNeft was the only candidate for the minority share of Transpetrol.
The Government of Slovakia controlling 51 percent stake of Transpetrol took into consideration the papers submitted by the Economics Ministry of the country and related to the sale of Yukos’ stake at Transpetrol to RussNeft. “Slovakian Economics Ministry supports the sale of the stake at Transpetrol to RussNeft,” said R.Beno. “Our good relationship with the Russian Federation is critically important for us,” said he.
The Government of Slovakia which in accordance with the privatization contract is entitled to choose a strategic investor for Yukos’ share is going to consider the sale of the 49 percent stake at Transpetrol and make its recommendation. The recommendation is to be sent to Yukos as soon as RussNeft completes the due diligence and applies to the Slovakian Government for official approval.
Earlier Slovakian Economics Minister Zharko Malkharek discussed the sale of Yukos’ share at Transpetrol with Russian officials. RF Economics Development Deputy Minister Andrei Sharonov said the Government of RF supported RussNeft as a candidate for the purchase of Yukos’ (РТС: YUKO) stake at Transpetrol. According to him, the Economics Development Ministry had sent a pertaining letter to the Slovakian Government. Moreover, Zh.Malkharek and head of Yukos Steven Theede agreed that the parties were not going to hamper the progress of the deal on the sale of the stake.
According to Kristina Felova, a representative of Slonaft (a Slovakian subsidiary of Hungarian concern MOL), the biggest country’s consumer of Russia’s crude oil, in future steady crude oil deliveries from Russian must be ensured. She also said that Slovakia might profit from increasing transit volumes of crude oil. She pointed out that RussNeft annually deliveres 3 million tons of crude oil to Slovakia which makes up nearly half of the requirement of the country.
