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    Gazprom Neft

    Gazprom Neft buys 22.39% of Sibir Energy for $740 mln

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    Gazprom Neft, the oil arm of energy giant Gazprom, has bought a 22.39% stake in Sibir Energy, which develops oil and gas fields in Siberia, from Central Fuel Company controlled by the Moscow government for $740 million, Gazprom Neft said on Tuesday.

    Gazprom Neft, the oil arm of energy giant Gazprom, has bought a 22.39% stake in Sibir Energy, which develops oil and gas fields in Siberia, from Central Fuel Company controlled by the Moscow government for $740 million, Gazprom Neft said on Tuesday.

    On February 14, the Sibir Energy board of directors adopted a resolution to reduce the company's share capital by 86.25 million shares or 22.39% while Central Fuel Company decided to get out of Sibir Energy.

    Gazprom Neft has now become the sole shareholder of Sibir Energy.

    "Gazprom Neft will pay $740 million in compensation to Central Fuel Company for the previously held block of shares in Sibir Energy," the company said.

    MOSCOW, February 15 (RIA Novosti)

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