SIBUR plans to use proceeds from Sinopec for the repayment of loans.
Edited by Rhod Mackenzie / 2015-09-07 07:05:50
China Finance Oil and Gas Refining Russia Petrochemicals PolymerUpdate Sinopec Sibur China Oil and Gas Russia Oil and Gas Gas Production and Refining
Shareholders of Sibur, the largest petrochemical company in Russia and Eastern Europe, were planning to send the proceeds from Sinopec at its entry into the capital of the Russian company to repay loans that they had attracted buying SIBUR, a source in the company told RIA Novosti.
"These Sinopec funds will be used to pay off the remaining debt of the shareholders, which they took on the acquisition of SIBUR in the first place. They are not related with more certain projects", - the agency informs.
