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.
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