Itera increases its dividends 5.6 times in advance of sale of its shares to Rosneft
Edited by Rhod Mackenzie / 2013-08-02 08:43:40
In 2012, the oil company Itera, when the first deal on sale of its shares to Rosnefft was concluded, increased its dividends 5.6 times, paid 16.121 billion rubles to its former shareholder Itera Holdings Limited.
In February of 2012, Rosneft and Itera Holdings Limited, controlled by Igor Makarov, announced sale of 51% of the oil company to Rosneft; the transaction was concluded in August of the previous year. In July of 2012, Rosneft bought 6% in the Itera’s authorized capital for 5 billion rubles, and increased its share to 51% in August, paid gas assets for the shares.
