Rosneft's treasure chest

Article Abstract:

Financial analysts suggest the failure of the sale of the Russian state-owned oil company, Rosneft, was due to a fall in the global price of oil and the decline of the Russian equity markets. It is estimated the new price for a 75% stake plus one share in Rosneft will be around $1.6-1.7 billion. The first sale of Rosneft, in May 1998, failed because there were no bids to match the starting price of $2.1 billion plus an additional $400 million for investment. The Russian government intend to sell their stake in ten major companies in order to raise $2.4 billion to meet budgetary needs.

Cover Story, Financial markets

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Devaluation of Sergei Kiriyenko's government

Article Abstract:

Russia's economy has been badly affected by the Asian economic crisis and falling oil prices. The rouble has been devalued and a 90-day suspension on bad debts has been introduced. This will effect the pending privatisation of Rosneft, Gazprom, LUKoil and Svyazinvest because foreign investors will be reluctant to buy assets. Rosneft is being offered at US$1.6 billion plus a further investment of US$62.5 million. The closing date is 27 Oct and the government is keen to attract investors. A 5% share in Gazprom is being sold for US$1.65 billion but this figure may be reviewed.

Exchange Rates, Public Utility Stocks, Management, Securities, Privatization, Privatization (Business), OAO Gazprom

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Clash of the Macedonian titans

Article Abstract:

Economic relations between Macedonia and Greece appear to have improved following the recent sale of two formerly state-owned Macedonian companies to Greek organizations.

Greece, Commercial Banks, Commercial Banking, Asset sales & divestitures, Acquisitions & mergers, International economic relations, Yugoslavia, Macedonia, Banking industry, National Bank of Greece S.A., Hellenic Petroleum S.A., Stopanska Banka A.D.

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