Billionaire Timchenko to Buy Into Petromir Gas, Vedomosti Says

Russian billionaire Gennady Timchenko and OAO Gazprombank plan to buy half of Petromir, the license holder of an East Siberian natural-gas deposit, from OAO Stroytransgaz, the engineering firm they control, Vedomosti said, citing an unidentified person.

Stroytransgaz will sell its half of Petromir to help repay debt to Gazprombank, Vedomosti said, citing the person. The pipeline-building company had 34.8 billion rubles ($1.2 billion) of loans outstanding at the beginning of the year, the newspaper said.

To contact the reporter on this story: Stephen Bierman in Moscow at

To contact the editor responsible for this story: Will Kennedy at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.