12/28/2010

www.gupta-verlag.de/rubber

Novatek CEO Mikhelson buys 50 % stake in Sibur

25 % of these shares were acquired by Miracle on 23 December 2010, while the other 25% will be re-registered in the name of Miracle once the required permission has been obtained from the Federal Anti-Monopoly Service. Miracle is controlled by Russian billionaire Leonid V. Mikhelson, CEO of Novatek. Novatek says, that it is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Gazprombank said that Mikhelson's stake in Sibur may be increased to 100%. The bank values Sibur at RUB 225 billion (USD 7.4 billion).

www.gupta-verlag.de/rubber