Russia's oil company Rosneft targets to complete takeover of petrochemical producer Sanors by Q1-2015, as per Platts. Sanors' petrochemical assets in Novokuybyshevsk in Russia's Samara region include acetone, phenol, ethylene, synthetic ethanol and gasoline additives production lines.
The US$1 billion deal was signed by the companies at the end of May, and was initially expected to be finalized by the end Q3-2014. The delay has been caused by requirement to obtain anti-trust approvals from other countries.
The deal received approval from the Russian Anti-Trust Service in July. The joint exploitation of upstream and downstream assets would accelerate the development of "high value added production" and increase the competitive edge of the companies' produce, Sanors and Rosneft said when signing the deal.
31-Dec-14 
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