Gazprom unit Sibur in talks to buy Croatia's Dina

30 August 2001 14:51  [Source: ICIS news]

LONDON (CNI)--Sibur, the petrochemicals affiliate of Russian energy giant Gazprom, is interested in acquiring Croatian chemicals producer Dina, CNI was informed on Thursday.

A spokesman for private investment group Dom Fund, which holds a 51% stake in Dina's parent, Dioki, said Sibur has expressed an interest in buying Dina following a recent visit to the site on the island of Krk, close to the Adriatic port of Omisalj. Dom Fund is now waiting written confirmation of intent to buy.

The Croatian Privatisation Fund, which owns the other 49% of Croatian petrochemical producer Dioki, said it has not been approached by Sibur regarding its stake.

However, the Dom spokesman said Sibur had expressed an interest in buying the whole of Dina. He added that Sibur was likely to approach the Croatian Privatisation Fund after it has submitted its offer to Dom. Nobody at Sibur was immediately available to comment.

The Dom Fund is one of seven private investment funds set up as part of Croatia's privatisation voucher scheme. Under the terms of the privatisations, each private investment fund must sell more than 10% of its stakes in state-controlled companies by 2003.

Dioki comprises two complexes: Dina, which produces polyethylene (PE) and vinyl chloride monomer (VCM) and Oki, which produces ethylene, PE, polystyrene (PS), expandable PS (EPS).

By: Joanna Kesteven
+44 208 652 3214

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