Serbia is going to ask Russia to revise the contract on NIS privatization

Serbia is going to appeal to the Russian authorities with a request to revise the terms of the contract on NIS privatization by Gazprom Neft, the Premier of Serbia A. Vucic says.

Gazprom Neft bought 51% in the Serbian NIS in the end of 2008 for Euro 400 million, and later Gazprom Neft bought within the obligatory offer 5.15% more from its minority shareholders. Now its total shareholding is 56.5%. Serbia owns 29.87%. The company pledged itself to invest to upgrading of production at NIS Euro 500 million.

Mr. Vucic claims that Serbia is dissatisfied with the agreement on NIS. The point will be solved in a friendly conversation with the President of Russia, V. Putin, the Premier D. Medvedev and the Chairman of the Board of Directors of Gazprom Neft, A. Miller.