Synthez Group sells Negusneft, its last production asset

The senator and the beneficiary of Synthez Group, L. Lebedev has decided to leave the oil business. His Negusneft is put for sale. The company holds the licenses for operations in Western Siberia, Kommersant writes referring to several sources in the market. One of them claims that Negusneft is valued at $100-200 million. No detailed negotiations are carried out as yet. A source in the company that received the offer to analyze Negusneft claims that the asset is ‘complicated’. The deposit is exhausted with a large debts and falling production. The prospects are unclear that’s why it is no surprise that the asset is put up for sale. The Synthez Group made no comments.