IHS Chemical Week

People & Business :: Companies

Sibur management raises stake in Sibur, Mikhelson's and Timchenko's share drops

9:36 AM MDT | July 4, 2013 | Natasha Alperowicz

Sibur (Moscow) has announced that its ownership structure has changed with former and current management increasing their stake in the company. Adine Development Inc., which is owned by Leonid Mikhelson and Gennady Timchenko, has reduced its stake in Sibur from 94.5% to 82.5%. Sibur’s present and former management, including CEO Dmitry Konov, has increased its stake in the company from 5.5% to 17.5%. None of the individual managers owns more than 5% equity interest in the company.   The minority shareholders include Konstantin Belkin, board member...

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