24 Nov '10
East-Siberian Gas Company has sold its 5.49% shares in Verkhnechonskneftegaz (VChNG), operator for exploration of Verkhnechoskoye oil and gas deposit in Irkutsk region, for $48.8m, Kommersant reports.
The buyer is TNK-BP Holding.
As a result of the deal, TNK-BP Holding has reportedly grown its share in VChNG to 74%.
Under the deal, part of the funds are to be given to Irkutsk region as a charity act, the newspaper said.