TALLINN, JAN 24: German Ruhrgas will increase its holding in Estonian natural gas distribution company Eesti Gaas to 32.1 per cent by purchasing an 11.4 per cent stake from the state for 53.6 million kroons, the business daily Aripaev said last week.The paper reported that Ruhrgas representatives would sign the agreement for buying the stake, which will make the German firm Eesti Gaas's largest single shareholder, next week.
Originally Russian Gazprom was to buy the stake, but late last year the company announced that due to the poor economic situation in Russia, it could not make any investments to the foreign countries. Privatisation agency Director General Vaino Sarnet was quoted by newspaper as saying that Ruhrgas has expressed its wish in writing to buy the additional stake in Eesti Gaas. Ruhrgas will buy the shares under the same conditions that were set for Gazprom.
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