You are currently here: News » Industry » Novatek CEO Mikhelson buys 50 % stake in Sibur
Section: General
  • Written on 28.12.2010 - Industry
  • You have these options:
    • Print this article
    • Article as PDF

Novatek CEO Mikhelson buys 50 % stake in Sibur

Sibur said in an announcement issued 23 December that it has received notification that the company “Miracle” has acquired the rights to a 50 % stake in Sibur Holding, which it obtained from OJSC Gazprombank.

25 % of these shares were acquired by Miracle on 23 December 2010, while the other 25% will be re-registered in the name of Miracle once the required permission has been obtained from the Federal Anti-Monopoly Service.

Miracle is controlled by Russian billionaire Leonid V. Mikhelson, CEO of Novatek. Novatek says, that it is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia.

Gazprombank said that Mikhelson's stake in Sibur may be increased to 100%. The bank values Sibur at RUB 225 billion (USD 7.4 billion).


RSS Feed

Are you are new here? Do you want to be always up to date?
Then subscribe to our RSS Feeds and never miss a news again.