[RUSSIA] Construction Assets of Gazprom to Have Personal Coach

Arkady Rotenberg has become a beneficial owner of majority stakes in five construction firms of Gazprom. If the companies retain contracts once the deals are finalized, Rotenberg will get access to the investment program of monopoly, which amounts to no less than 710 billion ruble in 2008.

The majority stakes in five construction firms that are under Gazprom’s control will eventually pass under management of Arkady Rotenberg, Interfax reported yesterday. People in Gazprom confirmed the sale of the stakes to some Cyprus firms, refusing to specify the beneficiary. But a source close to Lengazspetsstroy, which is one of those firms, confirmed that Arkady Rotenberg is the final buyer. Other firms in question are Spetsgazremontstroy, Volgogaz, Krasnodargazstroy, Volgogradneftemash.

Vice President of Russia’s Judo Federation Arkady Rotenberg was once the personal coach of Vladimir Putin.

Rotenberg, who is on vocation now, couldn’t be reached for comment yesterday. In Javara Neva Judo Club that Rotenberg heads (and where Vladimir Putin is the honorary president), they refused to deliberate on his business but pointed out that Gazprom backed up quite a number of competitions.

The first official information about new owners of Gazprom’s construction assets will be released in the middle of October. Vitaly Kryukov from Kapital said the monopoly’s investment program provides for the surge in investments in construction of gas pipelines and gas storage facilities (by 56 percent a year in 2009 and 2010), and this accelerated growth is bound to fuel revenues of Lengazspetsstroy and Volgogradneftemash. According to analysts, the new owners will endeavor to consolidate those companies in part and in whole, as their potential appears very promising.

[RUSSIA] Construction Assets of Gazprom to Have Personal Coach

Source: Kommersant

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