"Gazprom" and SUEK have not divided management of the future of the joint venture

The coordination of details of joint venture on the basis of electropower and coal actives of "Gazprom" and " the Siberian coal power company " lags behind the initial schedule. As have informed agency " Interfax " on Thursday familiar with a course of ne gotiations sources, partners dispatch in sights at questions of management by the future company.

Let's remind, that plans on creation of joint venture " Gazprom " and SUEK have declared in February, 2007. Then partners promised to coordinate and finish the transaction in the first half-year. According to the plan of work, a condition of creation of t he joint venture, in particular, the list vnosimyh in it of actives, should be coordinated by April, 1st.

As marks agency, to this term the offers has formulated only SUEK. The coal corporation in spite of the fact that "Gazprom", on conditions of the tr ansaction, should receive 50 percent plus 1 action of the joint venture, has offered parity representation of partners in board of directors (on three persons), and 4 more places to give independent directors. Besides SUEK has agreed to give the represent ative of "Gazprom" a post of chairman of board of directors, but without a casting vote.

Such scheme does not suit "Gazprom" which is not measured to concede the control over the joint venture. " At such alignment of forces actually the enterprise cannot make of independently any decision and all should be lifted the important questions on a level of shareholders ", - has declared agency a source familiar with a position of "Gazprom". In "Gazprom" also do not see direct necessity for attraction to work o f board of directors of independent members, in fact the joint venture while is created not as the public company.

SUEK plans to bring in the new joint venture all business which cost of analytics estimate in five-seven billions dollars. What exactly wil l bring "Gazprom" in created by the joint venture while officially did not appear, but sources spoke, that the contribution of gas monopoly will be limited to a 10,5 percent share holding of Russian Open Society " UES of Russia ".

As it was informed earl ier, against idea of creation of the joint venture on the basis of "Gazprom" and SUEK the Federal antimonopoly service (FAS) has acted.


Source: http://www.metcoal.ru/news_eng.asp?action=item&id=8600