Gazprom Neft Buys 50% Stake in Tomskneft: Deal Final

Rosneft Oil Company announced that the deal selling a 50% stake in Tomskneft VNK to Gazprom Neft is closed. The buyer is Gazpromneftinance LLC, a subsidiary of Gazprom Neft.

According to the terms and conditions of the sale, co-owners of Tomskneft will jointly make managerial decisions on the basic issues of company's development and on the rotation of the staff holding key positions.

Upon the closure of the deal, which Rosneft implemented through Neft-Aktiv LLC, a company in its structure, Rosneft will include Tomskneft performance results in its US GAAP accounts on the basis of its share interest in Tomskneft.