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Article: Ministry, LNT agree on Ventspils Nafta stake sale.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- May 19, 2006
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Ministry, LNT agree on Ventspils Nafta stake sale
RIGA. May 19 (Interfax) - Latvian Economics Minister Aigars Stokenbergs and Latvijas Naftas Tranzits (LNT) CEO Mamerts Vaivads have reached agreement on the main principles for the sale of the state's 38.6% stake in Ventspils Nafta (VN), Stokenbergs told journalists.
According to the agreement, the shares will be sold in one lot in a cash auction on the Riga Stock Exchange. The conditional price for one share has been set at not below 1.81 lati.
In 1997 an exclusive agreement was signed with the largest owner of the holding company - LNT (49.3%) giving the company the right to block any decision ...