The Board of Directors’ meeting has adjourned at JSC Gazprom’s Headquarters.

The Board reviewed information surrounding the setting up of AKS Holding completed with the participation of SIBUR on the platform of oil and gas refining assets.

The Board also endorsed the alienation of the Gazprombank-owned 25.52 percent stake in General Banking and Trust Co. Ltd. (Hungary).

Reference:

On 4 February 2005, Gazprom’s Board of Directors came up with a decision stipulating the settlement of SIBUR and its subsidiaries’ RUR 40.1 bln debt to Gazprom and its affiliates by the shares of an openly-held joint-stock company incorporated with the participation of SIBUR on the platform of oil and gas refining assets.

Open Joint-Stock Company AKS Holding was officially registered on 8 July 2005, with SIBUR and its 13 affiliated and associated undertakings becoming its stockholders.

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