The Lithuanian government and the European Bank for Reconstruction and Development (EBRD) consider signing by the end of this year a deal
Published:
21 February 2003 y., Friday
The Lithuanian government and the European Bank for Reconstruction and Development (EBRD) consider signing by the end of this year a deal under which the bank would acquire an equity stake in Mazeikiu Nafta (Mazeikiai Oil) and provide financing for the modernization of the Lithuanian oil complex.
"The EBRD reiterated its interest in investing in Mazeikiu Nafta, both by acquiring shares and by loaning additional funds," Deputy Economy Minister Nerijus Eidukevicius told BNS.
"However, the bank needs more information before discussing more specifically the amount of investments or any other details. Therefore, we have agreed that the bank should be given the opportunity to study the situation at Mazeikiu Nafta. Then we can discuss the structure of a deal," he said.
Eidukevicius met with Peter Reiniger and Sharlotte Philipps, senior EBRD officials, in London early this week.
The deputy minister said the EBRD was offered the investment opportunity and told that the Lithuanian government was open for proposals. The official added, however, that it was not clear yet how many shares the EBRD would like to buy or how many shares the government could offer to sell.
The press has reported that the government, which now owns 40.66 percent of Mazeikiu Nafta, will offer to sell 12 percent to 15 percent of the shares to the EBRD. Under the government's agreement with YUKOS, the Russian oil corporation, which owns 53.7 percent of Mazeikiu Nafta, is entitled to acquire a part of the state-owned stake as well.
Lithuanian Economy Minister Petras Cesna has said earlier that the EBRD could purchase a part of the state's holding and refinance the loans extended to Mazeikiu Nafta by the government and, possibly, by YUKOS.
Šaltinis:
BNS
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday.
more »
Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday.
more »
Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency.
more »
Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies.
more »
How should the EU's farm policy be reshaped and how should it be funded after 2013?
more »
MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses.
more »
Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets.
more »
New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy.
more »
The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid.
more »
The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union.
more »