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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Management raises stake in Sibur to 17.5%

7:50 AM MDT | July 12, 2013 | —Natasha Alperowicz

Sibur (Moscow) has announced that its ownership structure has changed with former and current managements increasing their stakes in the company. Adine Development, 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 managements, including current CEO Dmitry Konov, have increased their stake in the company from 5.5% to 17.5%. No individual managers owns more than a 5% equity interest in the company. The minority shareholders include Konstantin Belkin, board member...

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