Gazprom ‘wins $3bn Russian power bid’

Gazprom14 August 2013, News Wires – Russian gas monopoly Gazprom is reported to have won the bid to acquire almost 90% of the company which currently provides most Moscow households with heat and power.

The Alexei Miller-led giant is paying 98.6 billion rubles ($2.98 billion) for the 89.97% stake in Moscow United Energy Company, MOEK, numerous reports said on Tuesday.

Gazprom Energoholding, the subsidiary which has reportedly won the bidding, did so at the opening asking price.

The other bidder was expected to be a subsidiary of Russian bank Sperbank. However, it is unclear if this company actually submitted a bid on Tuesday.

– Upstream

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