MOSCOW, October 14 (RIA Novosti) - British-registered investment fund Millhouse Capital has not approached embattled Yukos oil major with a request to buy a 20% stake in Sibneft oil producer, a Yukos spokesman said Friday.
Alexei Kontorovich said the possible sale of Sibneft shares had been discussed at Yukos shareholder meetings several times, but each time had been blocked by Millhouse Capital, an investment vehicle for Russian oil tycoon and Chelsea FC owner Roman Abramovich that controlled his Sibneft assets before they were sold to Gazprom in September.
Kontorovich said Yukos might want to sell its Sibneft assets for the return of the $3 billion it paid for the stake. He said the company was facing tax bills and could use the money to pay them off.
Sibneft and Yukos announced their merger on October 3, 2003, when Yukos transferred its stock for 72% of shares in Sibneft and paid $3 billion for 20% of Sibneft shares. All transactions to pay Yukos shares for Sibneft assets have been nullified, leaving Yukos with 20% of Sibneft shares. However, due to charges of embezzlement against Yukos, these shares have been frozen.
Gazprom and Millhouse Capital signed an agreement in late September on the sale of 72.7% of Sibneft shares for $13.1 billion. The deal brought Gazprom's overall share in Russia's fourth largest oil company to 76%, including the 3% it already acquired.
