Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in effective ownership of 100%) in OJSC United Petrochemical Company from the Group's subsidiary JSOC Bashneft ("Bashneft") for RUB 6.2 billion.
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
The value of the stake is based upon an independent appraisal carried out by an international consultant.
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
UPC is a vertically integrated petrochemical group which owns four enterprises located in the Bashkortostan region: Ufaorgsintez, Tuimazinkoye and Shkapovskoye Gas Processing Plants and Bisphenol-A plant. In 2012, UPC generated a combined revenue of RUB 17.9 billion.
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
Ufaorgsintez is one of the leading petrochemical producers in Russia. Polypropylene and ethylene account for over 50% of its production line, while 90% of total sales are made to the domestic market.
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
The company benefits from an established production chain with feedstock sourced from Bashneft's Ufa refineries, the Tuimazinskoye and Shkapovskoye Gas Processing Plants, which produce liquid petroleum gas and nafta from stable natural gasoline (SNG).
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
UPC's development plans will be financed partly by its own cashflow, as well as debt financing and joint venture initiatives with leading international petrochemical companies.
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
Mikhail Shamolin, President and Chief Executive Officer of Sistema, said, “This acquisition is a natural expansion of our energy investments. UPC is already one of the leading petrochemical producers in Russia with a reliable supply of raw materials from Bashneft's downstream operations and competitive production costs.”
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
He adds, “Combined with Russia's increasing consumption per capita of petrochemical products, UPC provides Sistema with a solid entry into an attractive and growing sector.”
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
UPC's development plans currently envisage organic growth focused on existing and new production lines, as well as commenced discussions with leading international petrochemical groups on possible joint venture opportunities".
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces the acquisition of a 98% stake (resulting in #
Sistema