Lithuania Buys EON Gas Stakes for Edge in Gazprom Talks
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Lithuania bought German utility EON SE’s stakes in domestic natural-gas companies to strengthen its position in talks with Russia’s OAO Gazprom over a cut in the price for gas supplies.
State companies agreed to pay 508.6 million litai ($201 million) for EON’s 38.9 percent stakes in Lietuvos Dujos AB and its spun-off former transmission unit Amber Grid AB as well as its 11.8 percent of power distributor Lesto AB, Prime Minister Algirdas Butkevicius said today in Vilnius, the Lithuanian capital. The state’s voting power in the two gas companies now outweighs Gazprom’s, which owns 37.1% of both, he said.