SIBUR Limited has become the direct owner of 100% in SIBUR Holding

The Cypriot SIBUR Limited has become the direct owner of 100% in SIBUR Holding CJSC. Earlier, SIBUR Limited of controlled 100% in SIBUR Holding, owning 50% directly, and another 50% via its 100% branch Miracle CJSC, controlled by the chief of Novatek, L. Mikhelson. Later Miracle and SIBUR Holding merged, and the stocks belonging to Miracle were paid off. It means that the changes are connected with simplification of the authorized capital. Today the structure of SIBUR’s authorized capital is as follows: Mr. Mikhelson holds 57.5% in SIBUR Limited, Mr. Timchenko holds 37.5%, and the management including the chief of Gazprom Neft A. Dyukov holds 5%.

SIBUR Holding CJSC is the Russia’s and East Europe's largest oil chemical company. It’s engaged with the full cycle from gas refining, monomers, plastic masses and synthetic rubber production, to production of mineral fertilizers, tyres and mass plastic's processing.

Source: http://rosinvest.com/novosti/904552

Translated by Nadezhda Poltoratskaya