According to unofficial information, the gas monopoly continues to negotiate the purchase of equity stake in the Hungarian city gas distribution companies Fogaz.However, the transaction may not take place because the group is not satisfied with its price – 491 U.S. dollars, reported today RBC daily. In the Gazprom did not confirm the talks. However, analysts do not rule out the deal as Gazprom has always been interested in joining in the gas distribution network in Eastern Europe. Fogaz sells gas in the area of Budapest and 806 thousand households and businesses. Shareholders – City authorities in Budapest (50% plus one share), a company RWE Gas International (49,83%), minority shareholders (0.17%). In 2006, revenues from sales of 2.45 billion cubic meters. m of gas has reached 990 million dollars in Hungary in the same year it sold 14 billion cubic meters. meters of gas, of which 8.8 billion cubic meters. m went to the supply of Gazprom , 1,9 billion – RUE, 3,3 billion – German E.ON. Gazprom and the Hungarian government is currently negotiating the sale of the municipality controlling stake gas distribution company Fogaz, reported local newspaper Nepszabadsag. The cost of the package Budapest appreciated in 491 million dollars, which Gazprom apparently did not agree. The second largest shareholder – RWE Gas International, which has a preferential right to purchase gosdoli, and a monopolist in the Hungarian wholesale gas market and potential buyers E. ON Forgaz Trade ( daughter E. ON) have shown interest in this deal because they were dissatisfied the position of the Hungarian regulators, limiting the profits of suppliers of gas. All of this negates the calculations of the municipality obtained for the package considerably more projected dividend yield on him for 20 years, writes the newspaper. In addition, the lack of buyers may reduce the cost of sales, and open the door to other potential buyers, such as Gazprom or financial structure, certain Hungarian experts. According to the publication, negotiations are at the highest level in Moscow and Budapest. However, the press service of Gazprom deny the talks. Recall the possibility of privatization of shares in Fogaz Hungarian authorities reported in the previous year. The value of the deal but did not disclose. However, the city municipality of Budapest explained that the company showed a marked interest in Russian investors . In particular, according to unofficial information, company Group DF, owned by Dmitry Firtash, it is interesting that transaction. In this regard, the experts predicted that competition between Gazprom and the Group DF, at least in Eastern and Central Europe, will only increase. Analyst Infrared Veles Capital Dmitry Lyutyagin notes that Gazprom interesting entry into the gas distribution network abroad, mainly in Eastern Europe: This is consistent with the company strategy – the establishment of the scheme from gas sales to its final consumer . But he did not rule out that Gazprom is still negotiating with Hungary, despite the denial of the company. Russian specialists are constrained to call the exact value of Hungarian assets. However, Head of analytical department of IC Brokerkreditservis Maxim Shein believes the price of 491 million U.S. today is clearly overstated.
