Gutseriev’s oil areas in Azerbaijan to be transferred to RussNeft

Gutseriev’s oil areas in Azerbaijan to be transferred to RussNeft
# 06 June 2016 08:43 (UTC +04:00)

APA-Economics reports RussNeft plans to place 25-49% share in the exchange: “The deal may be reached in the fourth quarter of 2016”, he said.

Currently, Gutseriev and his family have 54% share in RussNeft. Remaining 46% belongs to Swiss Glencore company: “It’s early to say anything about sharing after IPO. This will depend on parameters of eth deal. However, it’s exact that Gutseriav will remain as a major shareholder”.

Shishkhanov also noted that an investor from CIS is ready t invest $1 billion.

He added that prior to IPO, oil areas of Gutseriev’s Global Energy in Azerbaijan will be transferred to RussNeft. Gutseriev established Global Energy in 2007. Moreover, Global Energy’s assets in Kazakhstan may also be transferred to RussNeft.

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