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Gazprom Affiliate Sells Controlling Stake

The largest domestic steelmakers Severstal group and United Metallurgic Company are interested...

Stroyneftegaz, Russia gas monopoly Gazprom's affiliate, has put up to sale its 61.1 percent stake in Trubodetal, Russia?s largest connecting pieces pipes producer.

The largest domestic steelmakers Severstal group and United Metallurgic Company (OMK) are reputed to be interested in the purchase.

Trubodetal plant accounts for one third of the Russian market of pipe component parts and 60 percent of the production of component parts for large-diameter pipes.

Stroyneftegaz, controlled by Gazprom, put up its share in the plant to sale in June.

The deal is initiated by Troika Dialog investment company. The package to be sold is estimated at $20-22 million.