The consortium of Ruhrgas and Gaz de France (GDF) paid additional USD 65 million (SKK 2.6 billion) for a 49-percent stake in gas utility and transporter Slovensky Plynarensky Priemysel (SPP). The strategic investor has already paid USD 2.7 billion that was SKK 120.96 billion on the day of the transaction on July 11, 2002. Spokeswoman of the Economy Ministry Katarina Sevcikova informed SITA that the National Bank of Slovakia received the additional payment on Tuesday evening.

The additional payment partially offset the exchange-rate loss, which originated by currency movements between signing date of the sale contract and the closing date. The USD 2.7 billion price, calculated in crowns, decreased by SKK 7.7 billion between the day of signing the contract and the closing date.

The remaining 51 percent in SPP are in the hands of government privatization agency the FNM. Ruhrgas and Gaz de France equally divided the 49-percent SPP stake. Based on signed transaction documents, Russian Gazprom has an option to buy one-third of the minority stake.