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Gazprombank Sells Its Stake in Financial Service Firm GPB Global Resources

Established in 2011, GPB Global Resources B.V. is a renowned financial services firm with a focus on facilitating oil exploration and production projects in Africa and South America.

The firm is based out of the Netherlands, but due to its global ties, has its operations spread all over the world. With over 1,000 employees in multiple continents, it has made a name for itself due to its overall stature just as much as it has done so through its partnerships.

That’s why, when a minority stake holder in GPB Global Resources B.V. decided to sell its share of the company, it made for major news that was taken up by notable publications over the web.

The minority stake holder in question is Russian bank and lender Gazprombank, which recently confirmed the news to Reuters.

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Gazprombank’s decision to sell its stake in GBP Global Resources came from the recent U.S. sanctions applied to Venezuelan state entities. While GBP GR is based out of the Netherlands, it is part of a joint venture with Venezuelan state oil company, PDVSA.

Dubbed Petrozamora, the joint venture was launched in 2012 with the intention to develop two oil fields in Venezuela. PDVSA holds ownership of 60 percent of the firm, with GPB Global Resources B.V. retaining the rest. The entities also hold a financing agreement worth up to $1 billion in oil prepayment with Gazprombank.

But with the decision to sell its share in GPB Global Resources B.V., Gazprombank is doing away with those partnerships. While the bank did confirm to reuters that its indirect stake in Petrozamora as well as its minority stake in GBP GR has been sold, it didn’t confirm the details of the buyer.

GBP Global Resources continues to operate from its headquarters in the Netherlands, and has not returned with comments to Reuters.

Partnerships form and dissolve for a plethora of reasons and we know that value must be preserved all throughout the process. Great companies and entities will continue to make the best decisions to preserve and perpetuate value for each firm. We can expect growth in the financial service industry. Learn More: https://www.zoominfo.com/c/gpb-global-resources-bv/356310194