Russia's Gazprom terminates its stake in Bulgarian company Overgas

published on 1/29/21 10:35 AM

Photo: Library

The Moscow-based energy company Gazprom has terminated its participation in the Bulgarian private gas company Overgas. This was announced by the Russian gas giant, quoted by Russian news agency TASS.

Gazprom's share was 50% of the stocks of the Bulgarian company. The transaction was made on January 27, 2021.

The process of separation between the two companies began in 2015. In order to buy back its shares, Overgas has taken out a loan of 117 million euros, Capital writes.

The Bulgarian gas company Overgas maintains 2,100 km of the country's gas distribution network and supplies gas to 51 municipalities in the country.

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