"Gazprom" to take over obligations of "Istrabenz" holding

Russian energy giant "Gazprom" has given the offer for purchase of all obligations of Slovenian mixed holding "Istrabenz" towards banks with the discount of 25%. In the meantime, banks, the creditors of "Istrabenz" holding, have signed the agreement on forced settlement and agreement on distribution of possible surplus from cashed-in repo contracts.

Six banks and two non-banking creditors voted for forced settlement, while the representatives of Austrian bank "Bawag" voted against that settlement and for bankruptcy.

None of the banks checked on Tuesday how authentic the Russian offer was, although some of them would find that offer very attractive. The debt of Slovanian company – "Istrabenz" holding, which operates in the fields of energy, food, tourism and information technologies, "Infond holding" and several other large companies has reached 2.5 mlrd EUR, but it was not specified how big the obligations of "Istrabenz" holding towards banks were.

Russian offer came through consulting company "Tax Group". However, the takeover of a share on the basis of the obligations towards banks will not make it possible for company "Gazprom" to become the majority owner of "Istrabenz" holding because the owners that appoint supervisors, administration and make decisions about sale of the majority package will remain in the company.

By the way, Russian energy companies are interested in entering Slovenian energy sector especially oil company "Petrol" and the storage for oil derivatives on Srmin, which is owned by companies "Istrabenz" and "Petrol".