Analysts predict future owner of 49% of Transpetrol

Mon, 28 August 2006

THE government of Slovakia is reportedly most likely to acquire a 49% stake in the Slovak-based pipeline company Transpetrol from Yukos Finance BV, a Yukos subsidiary. Industry experts say the reason that the Slovak government is willing to bid for the stake – and pay $100-120 million – is to speculate and re-sell it afterwards.

At the same time, analysts suggest that this is more a political decision than an economic one.

At present, the Slovak government controls 51% percent of Transpetrol. Last February, the Russian oil company RussNeft made an attempt to purchase the remaining 49% for $103 million, but the government of Slovakia vetoed and blocked the deal. Afterwards, other companies such as PERN (Poland), MOL (Hungary), CEPSO (the Czech Republic), and Gazprom (Russia) showed their interest in acquiring the stake from the bankrupt Russian company.

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Analysts predict future owner of 49% of Transpetrol

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