Mergers

UC Rusal can get the Siberian GES from O. Deripaska

Deripaska’s En+ can unite UC Rusal and Eurosibenergo, Vedomosti informs referring to 2 persons close to different shareholders of UC Rusal and the bank staff crediting the metal company.

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The state companies Tatneft, RFPI and Rosneft compete for Bashneft purchase

The state companies Tatneft, RFPI and Rosneft compete for Bashneft purchase

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Gazprom plans to exchange assets with Shell by the end of 2016

​By the end of the year Gazprom might gain control over some of the assets which Shell purchased previously in 2016 after the amalgamation with BG, the deputy chairman of Gazprom, A. Medvedev, said.
Some assets of BG might be included in the deal on the exchange of assets between Gazprom and Shell. The former assets of BG (now the assets of Shell) are a possible variant in the exchange of assets with us. We have obtained everything they have and now we study. We are interested in the vertically integrated scheme with all level of cost forming, Medvedev said.
It absolutely clear that the deals will be completed by the end of the year, maybe earlier. In 2015 both companies signed a cooperation agreement which presupposes the development of strategic partnership in all segments of the gas sector.
The net profit of Shell fell in Q1 by 89% to $484 mln. The main reasons of the fall are the oil price fall and expenditure for the amalgamation with another energy company – BG Group. Shell also announced of investment cutting by 10% in 2016 – from $33 bln to $30 bln.

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Petropavlovsk waits for Viktor Vekselberg

Gold-mining company Petropavlovsk has seen "great potential" in merger with Zoloto Kamchatki of Viktor Vekselberg. His Renova is the Petropavlovsk’s largest shareholder with 21.45% of votes, but until now the industry believed that the top management and the founders of gold mining company opposed to such partnership. The protection from the main shareholder was considered a deal with Musa Bazhaev, announced in April, who should receive 30.3% in Petropavlovsk, and the merger with Zoloto Kamchatki, according to the Kommersant’s information, wasn’t discussed then.
Shareholder and CEO of Petropavlovsk Pavel Maslovski (owns 5.81% of shares) has said to the Bloomberg that he favours the idea of ​​the merger with Zoloto Kamchatki of Viktor Vekselberg and sees "great potential" in the possible deal. According to Mr. Maslovski, Zoloto Kamchatki "has interesting assets", and with the strengthening of gold prices in 2016 "the market is ready to welcome the deal". But there weren’t negotiations or offers, he said. Zoloto Kamchatki and Renova of Viktor Vekselberg declined to comment. Petropavlovsk specified to the Kommersant that Pavel Maslovski answered the question about Zoloto Kamchatki “in the context of the broader discussion on M&A prospects”.

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Gutseriev plans to unite RussNeft and Neftisa in 2016-2017 and hold an IPO

​The total EBITDA by all companies will make up $1.2 bln.
M. Gutseriev expects the merging of his companies – RussNeft and Neftisa – in the coming 2 years with a further IPO, he said.
Debt control
Mr. Gutseriev said that RussNeft plans to convert $1 bln of its debt until the end of 2015. Currently the debt of RussNeft reaches $2.3 bln.
By the end of the year we expect to covert $1 bln. The entire debt and EBITDA will stay at a very low ratio, we will attract new funds and actively develop new deposits in new regions, he said.
In November RussNeft reduced its debt to 42.3 bln having converted $3 bln of debt into shares.

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"Rostech" to merge titanium with Telekom.

The state corporation will turn its transparent side to investors.
As "the Kommersant" informs, "Rostech" creates special structure, where it will share in assets attracting the investors. These are, for example, blocking stakes in the titanium "VSMPO-AVISMA" and Yota Devices, 100% of infrastructure-mayning "PT Global Resources". "Rostech" believes that the holding could raise funds through greater transparency. Experts agree that, given the diverse and often loss-making enterprises it will be easier for the state corporations to look for investors under "clear pool of assets".

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Russia FAS may interfere with Halliburton and Baker Hughes deal.

FAS is slow in negotiating the purchase of Baker Hughes.
The Russian government may intervene in the world's largest merger in the oilfield services business, which US Baker Hughes and Halliburton perform. FAS has extended the review of an application filed by Russian structures of these companies to merge Russian assets. According to "the Kommersant", the transaction must be submitted to the government commission on foreign investments. The same situation has happened considering the acquisition of Russian Eurasia Drilling by Schlumberger, and then the buyer had to make a number of concessions to the Government of the Russian Federation. However, in the case of Baker Hughes and Halliburton sources of "the Kommersant" and experts do not expect special problems.

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Rosneft can postpone construction of an oil refinery in the Moscow region

Rosneft can postpone construction of an oil refinery in the Moscow region, the Governor of the region A. Vorobyov says. He states: ‘It’s a large project. The M&A market is very active now, and the companies change their tactics and strategy. Rosneft took over BP-TNK, and, thus, if the enterprises are loaded enough today then the project can be postponed.

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Preliminary hearing under the claim of the Bashneft minority shareholder will continue on September 18

A preliminary hearing under the claim of the Bashneft minority shareholder will continue on September 18, REGNUM IA has been informed in the court. On August 4th, the Arbitration Court of Moscow tried the first suit of R. Inozemtseva against Bashneft and the Federal Subsoil Use Management Agency. Mrs. Inozemtseva contested in the claim the changes in the license agreement for the deposits of Trebs and Titov, and transferring of the license from Bashneft to Bashneft Polyus Ltd, the joint venture of Bashneft and Lukoil.
In February 2014, Mrs. Inozemtseva bought 4 stocks of Bashneft for a total sum of approximately 20,000 rubles, and later on July 4 she appealed to the court against Bashneft with a claim for $10 billion. The short period of owning and the colossal particulars of claim arise the thought that the case is a professional attack or even a raid in favour of third parties.

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