The extraordinary general meeting of YUKOS shareholders made decisions on the merger of YUKOS and Sibneft, a source in the company's press service reported. The decisions were made by absentee voting on May 27, 2003. YUKOS shareholders approved purchasing a 20-percent stake minus one share in Sibneft for $3bn and additionally up to 72 percent of Sibneft's shares in exchange for YUKOS shares. They also approved an increase in the company's share capital by placing another 1 billion shares and brought necessary changes into the company's articles of association.
As reported earlier, on April 22, YUKOS and Sibneft agreed on a merger. The new company will become the world's fourth largest oil company in the volume of oil production. The deal is expected to be completed before the end of 2003.
Russian officials have repeatedly declared that Israeli aviation poses a threat to the Russian military in Syria.