Sibneft getting ready for tender on selling Slavneft

On November 6, 2002 the board of directors of Sibneft recommended shareholders approve the allocation of a $1.7bn credit to the company's subsidiary Fin-trade, the press service of Sibneft told RosBusinessConsulting. An extraordinary meeting of shareholders is scheduled for December 21, 2002.

Sibneft specified that these actions were carried out within the framework of preparations of the company for participation in a tender on selling a 74.96 block of shares in Slavneft.

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