Gazprom sells its stakes in Lithuanian gas companies

Motieka & Audzevičius advised OAO Gazprom, Russian giant and Europe’s top gas supplier, in the proceedings related to transfer of its 37.7% stake in energy companies, AB Lietuvos dujos and AB Amber Grid. Our firm was chosen to lead OAO Gazprom through all stages of the transfer starting from analysing of the regulation, drafting of the transaction related documents up to final notification of the completed deal.

AB Lietuvos dujos is engaged in gas import to Lithuania and further retail to final customers, while AB Amber Grid operates national gas transmission system.

OAO Gazprom took a strategic decision to withdraw from both companies by selling the shares in AB Lietuvos dujos and AB Amber grid during the mandatory take-over bid. The mandatory take-over bid was announced as a result of the acquisition of the companies’ shares by state controlled enterprises.

The value of the stakes transferred in by OAO Gazprom in both companies is appr. EUR 120 mil. and shall be considered as one of the biggest of implemented take-over bids in the history of the Republic of Lithuania.