SIBUR plans to buy out 100% of company's shares from shareholders

29-Apr-08
Top management of Russian petrochemicals producer SIBUR Holding could decide to buy out 100% of the company's shares from its shareholders. SIBUR officials are interested in consolidating a controlling stock interest in the company. It was reported earlier that five SIBUR top managers- including SIBUR president Dmitry Konov, senior executive vice president Vladimir Razumov, vice president for economic and finance Alexei Filippovsky, vice president for organizational issues Vitaly Baranov and vice president Mikhail Karisalov plan to acquire the 70% stake held by Gazprombank. The buyback procedure could be completed this year. Gazprombank owns 70% of SIBUR, CJSC Lider has 25% plus one share and another 5% are reserved for the SIBUR options program.
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