Enel: Deal to sell SeverEnergia stake to Rosneft sealed, binding

9/25/2013

Enel: Deal to sell SeverEnergia stake to Rosneft sealed, binding

BY JAMES MARSON

MOSCOW -- Enel's deal to sell its stake in Russian gas producer SeverEnergia to Rosneft is "sealed and binding," an Enel spokeswoman said.

Earlier, the main shareholder in Russia's No. 2 gas producer Novatek, Gennady Timchenko, was quoted as saying by Russian news agencies that his firm and Gazprom Neft were in talks to buy the stake in SeverEnergia, which produces gas on the Yamal peninsula in Russia's Artic.

SeverEnergia is 51% owned by Gazprom Neft, the oil arm of Gazprom. The rest is owned by a joint venture, 60% controlled by Eni. The remaining 40% of that venture is being sold by Enel.

Rosneft said it had agreed to acquire Enel's stake for $1.8 billion, a step towards its goal of becoming a major player in Russia's natural gas business. Rosneft said that the deal was "legally binding."

A person familiar with the deal said Enel had received an offer from Novatek, but chose the Rosneft offer instead.

Dow Jones Newswires

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