FAS allows Rosneft to buy SANORS
Edited by Rhod Mackenzie / 2014-07-28 11:38:05
FAS has granted the Rosneft’s petition to acquire 100% of the voting shares of Novokuibyshev refinery (SANORS) through its subsidiary RN-Primorsky refinery, the Service reported.
As it was previously reported, Rosneft and SANORS Holding Limited signed a purchase agreement during the St. Petersburg International Economic Forum, according to which Rosneft acquires SANORS’ enterprises.
The contract provides for acquisition of 100% of Novokuibyshev petrochemical company’s shares by the oil company. The deal is expected to be completed before the end of the third quarter of 2014 after fulfillment of a number of precedent conditions, including obtaining permissions of antimonopoly and other regulatory bodies.
