January 29 (SeeNews) - Russian energy giant Gazprom said on Friday that it has reached a final settlement of all claims and disputes with Bulgaria's Overgas Group, which also includes the sale of Gazprom's stake in Overgas Inc.
Gazprom expects to receive over 100 million euro ($121 million) as part of the agreement, it said in a statement without providing further details.
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Earlier this month, natural gas distribution company Overgas Mrezhi agreed a 117 million euro loan financing from a syndicate of five banks - the International Bank for Economic Co-operation, and Sofia-based UniCredit Bulbank, Raiffeisenbank Bulgaria, DSK Bank, and Allianz Bank Bulgaria. The financing comprises a 100 million euro term loan, a 10 million euro investment loan, and a 7 million euro multi-purpose credit line, according to data entered into the commercial register.
Gazprom said last year that its board of directors approved a decision to divest its 50% direct and indirect interest in Bulgarian natural gas supplier Overgas for 15.5 million euro.
($ = 0.8259 euro)