The Russian energy giant Gazprom has announced that it will hold an auction on November 15 for the sale of its 19.9 percent stake in Large Diameter Pipe Plant (ZTBD).
Gazprom's stake in the plant, which is located Nizhey Tagil, will be auctioned in a single lot with a starting price of Ruble 238.8 million ($9.6 million).
ZTBD was established in 2001, with its main shareholders including Russian Federation Property Fund (RFPF) - a 25 percent stake, Evraz's subsidiary NTMK - a 25 percent stake, Gazprom - a 19.9 percent stake, and Duferco holding a 30.1 percent stake. In 2005, Duferco sold its stake in the plant to NTMK, thus increasing NTMK's total share in ZTBD to 55.1 percent.