Gazprom needs its own laws: the monopoly again doesn’t want to pay to minority shareholders

Gazprom is trying to find a new way not to make an offer to minority shareholders of the gas distribution companies (GRO), purchased by the monopoly from Rosneftegaz in 2013. The monopoly would have to spend about 8 billion rubles to buy back the shares and head of Gazprom has asked the Ministry of the Economy to make changes to the law that would enable it to avoid an offer if state-owned companies conclude a deal on the purchase and sale of assets on the demand of the state. But lawyers believe that it would be a "violation of the rules of the game": the state must conclude transactions, taking into account all their implications.

The head of Gazprom, Alexei Miller has appealed to the Minister of Economic Development, Alexei Ulyukayev with a proposal to amend Art. 84.2 of the Federal Law "On Joint Stock Companies". He proposes to exempt state-owned companies from having to make an offer to minority shareholders if the transaction for the redistribution of assets between them are made by presidential decree or a decision of the Government, sources, familiar with the letter, told the Kommersant. Mr. Miller notes that when companies with a large participation of the state conclude transaction on orders of state bodies, they act "not as independent civil actors, but as agents of the will of the Russian Federation".