Gazprom To Preserve Controlling Stake In SIBUR

The board of directors of Gazprom made a decision to preserve a controlling stake in the Siberian-Ural oil and gas company (SIBUR) after the upcoming issue of additional shares, the press service of SIBUR reported to RBC. Yesterday the board considered a conception of reforming SIBUR. It provides for the creation of the largest oil and gas chemical company in Eastern Europe, which will unify all stages of processing hydrocarbon materials. During the planned additional issue, SIBUR is going to exchange controlling stakes in 17 leading Russian enterprises within the SIBUR joint stock company for shares in the future unified holding. As reported earlier, the SIBUR board of directors decided to increase the company's charter capital from 4.35bn rubles ($151m) to 70bn rubles ($2.43bn) by issuing additional shares.

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