The Invest-Oil company, acting on behalf of the Sibneft Oil Company and the Tyumen Oil Company (TNK), paid about RUR58.712bn (about $1.86bn) for about 3.563 billion common shares in the Slavneft Oil and Gas Company, which is 74.95 percent in the company, on January 18, 2003. These shares were purchased at a privatization auction on December 18, 2002. This information was posted by Sibneft and TNK in a joint press release.
Invest-Oil got a loan from Sibneft and TNK, which provided equal shares of it. Slavneft's shares were passed to Invest-Oil on January 21, 2003.