Russian Billionaire Buys 50% Stake in Sibur

Gazprombank (Moscow) has agreed to sell a 50% stake in Sibur, Russia’s largest petrochemical company to Miracle, a company controlled by Leonid V. Mikhelson, CEO of Novatek (Moscow). Novatek is Russia’s largest independent gas producer and the second largest natural gas producer in the country. Sibur announced earlier this month that it had been notified by Miracle about the acquisition of the 50% stake in Sibur Holding. 25% of the shares were acquired on December 23rd and the remaining 25% will be “re-registered in the name of the buyer, once...

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