Sibur stake is sold to owner of gas group Novatek

Rather out of the blue, Sibur owners Gazprombank have sold a 50% stake in the Russian petrochemical major to a company controlled by Leonid Mikhelson, CEO of Russia’s second-largest gas producer Novatek. Mikhelson has the option to boost this to 100%. 


What this means for Sibur is anyone’s guess though Novatek would probably be a good source of natural gas for feedstocks. I am trying to source an interview with Sibur to discuss the implications of this move. 


Gazprombank, a subsidiary of Russian gas giant Gazprom, sold the stake to Russia’s ZAO Miracle. There is no sign of ZAO Miracle on the web, suggesting it is a holding company created for the purpose of this deal. 


Gazprombank said in a separate statement that ZAO Miracle would have an option to acquire a 100% interest in Sibur. No other details of the transaction were disclosed. Sibur Holding has been controlled by Gazprom and Gazprombank since December 2005. 

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One Response to Sibur stake is sold to owner of gas group Novatek

  1. meizitang 20 June, 2013 at 2:41 am #

    Sibur stake is sold to owner of gas group Novatek | Look East For Chemicals | ICIS

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