12 Oct 2012 17:48

Volga Resources raises funds through REPO on NOVATEK shares, stake unchanged

MOSCOW. Oct 12 (Interfax) - The fund Volga Resources, which is owned by businessman Gennady Timchenko, has announced that its 100%-owned subsidiary LLC Santata has reduced its stake in NOVATEK from 13.13% to 9.64% following an inter-group REPO deal in the framework of raising financing from international banks, the funds said in a press release.

The press release said that Volga Resources and Timchenko's stake in NOVATEK has gone unchanged.