Beltransgaz

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The State Property Committee of Belarus agreed the divestiture of 50% of the government's stake in Beltransgaz, the state-owned natural gas transmission and distribution company, to OAO Gazprom [Russian Federation] in 2007. On May 18, 2007, with a view to setting up a Belarusian-Russian gas transportation joint venture, the State Property Committee of Belarus and OAO Gazprom signed a contract for the sale of 50% of Beltransgaz shares to Gazprom for US$2.5 billion. Under the agreement, Gazprom was to make a US$625 million payment for a 12.5% stake each year for four years. The first purchase took place in June 2007, the second in January 2008, and the third in February 2009. The final payment was scheduled for February 2010. The fourth transaction took place in February 2010, when Gazprom acquired an additional 12.5% of Beltransgaz for US$625 million, bringing its holding to 50%. In November 2011, Gazprom signed an agreement with the State Property Committee of Belarus to to acquire the remaining 50% stake for US$2.5 billion. In December 2011, Gazprom paid Belarus US$2.665 billion(78,304 million RUB) Under an agreement signed by Gazprom and state-owned Beltransgaz on PPI Subtype changed to "full" as of 12/2011 May 18, 2007, Gazprom was to buy 50% of Beltransgaz shares for a total consideration of US$2.5 billion. The payments were to be made in four stages in 2007-2010. Gazprom was to obtain 12.5% of Beltransgaz shares at each stage. The first transaction took place in June 2007, when Gazprom acquired 12.5% of Beltransgaz for US$625 million. The second transaction took place in January 2008, when Gazprom acquired an additional 12.5% of Beltransgaz for US$625 million. The third transaction took place in February 2009, when Gazprom acquired an additional 12.5% of Beltransgaz for US$625 million. The fourth transaction took place in February 2010, when Gazprom acquired an additional 12.5% of Beltransgaz for US$625 million, brining its holding to 50%. Final investment complete in Feb. 2010