Bloomberg News

Gazprombank Unit to Buy 26% of Trader Avrasya, Turkey Board Says

January 03, 2012

Jan. 3 (Bloomberg) -- Gazprombank OJSC unit Prima Energy Trading LLC plans to acquire 26 percent of Avrasya Gaz AS, a Turkish wholesale gas trader, according to Turkey’s antitrust watchdog and the owner of the holding Ozcan Tahincioglu.

Prima Energy on Dec. 8 applied for approval to acquire the stake from Tahincioglu, the regulator said on its website. He declined to comment on the value of the deal or the timing of the proposed transaction when contacted by telephone today, saying Russia’s Gazprombank owns 100 percent of Prima Energy.

Turkey’s state pipeline operator Botas Boru Hatlari ile Petrol Tasima AS awarded Avrasya Gaz a contract to import 500 million cubic meters of gas a year from OAO Gazprom from April 2009 to 2022 to sell in Turkey, according to its website.

Gazprombank officials didn’t answer telephone calls to the company’s offices today, a public holiday in Russia.

--With assistance from Stephen Bierman in Moscow. Editor: Tony Barrett, Amanda Jordan

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.


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