RusEnergy

29.04.2005 IntelliNews Today - Oil major Urals Energy bought 26.75% of shares in bank Zenit from the subsidy of Tatneft, Tatneft Oil Ag. At the same time, Tatneft kept its blocking stake in the bank and continues to improve its cooperation with the bank. The price paid for the stake was not disclosed. This purchase was inline with the strategic goal of the bank to find a long term strategic partner. Also the bank wanted to diversify its shareholders base so that none of its shareholders has a controlling stake. It was also important for the bank that Urals Energy will be not only the bank's shareholder, but also a client. This will give a strong impulse for the development of the business.