10 February 2004 04:30
Yukos directors to reach final decision on Sibneft de-merger Feb 26
MOSCOW. Feb 10 (Interfax) - Yukos directors will make a final decision regarding the de-merger with oil producer
Sibneft at a February 26 meeting, Simon Kukes, the Yukos CEO, told Interfax.
Financial consultants are due to present several options for the demerger. Once it has given its approval, the board
will convoke a shareholders' meeting, and the whole process will take about three months, Kukes said.
"I want to find the right form, one which suits all shareholders, minorities included," Kukes said.
On October 3 the owners of Sibneft and Yukos announced the completion of a merger between the two companies,
resulting in the creation of YukosSibneft. Yukos became the owner of 92% of shares in Sibneft, while Sibneft
shareholders acquired 26.01% of Yukos.
But on November 28, the merger was put on hold, and on December 16, the Sibneft owners said the merger was off. [RU
ASIA EUROPE EEU EMRG ENR MRG STX CORA] pr
[Interfax] |
RUSSIA IN FACTS
