This content is from: Innovation

Novatek Offers $953M For Sibneftegaz

Novatek has offered to acquire the remaining 49% of Sibneftegaz.

Novatek has offered to acquire the remaining 49% of Sibneftegaz, Reuters reports. The Russian group already owns 51% of Sibneftegaz, which it acquired for $876.7 million from Gazprombank.

Novatek has offered $953 million to buy back the outstanding shares from Sibneftegaz’s minority shareholders. Russian independent gas producer, Itera, holds 48.9% of the remaining stake.

Click here for the story from Reuters.

Related Content