Gazprom and BASF signed the agreement on the asset swap in 2007. Under that document, the Gazprom group has increased its share in the authorized capital of Wingas GmbH up to 50 per cent minus one share. For its part, BASF AG received 25 per cent minus one ordinary and one preferred share without voting rights, which is equivalent to a 10-per-cent stake in the project, in the authorized capital of the Severneftegazprom open joint-stock company [that owns the licence for the development of the Yuzhno-Russkoye oil and gas field].
At the time the asset swap deal envisaged in the above agreement was closed the Gazprom group received a 49-per-cent share in the authorized capital of the Wintershall AG company (which owns rights for hydrocarbon exploration and production as part of concession agreements in Libya).
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