YUKOS comes into possession of 20% stake in Sibneft

04.09.2003 03:44

YUKOS has taken possession of about 948.259m of Sibneft common shares, i.e. 20 percent minus 1 share in the oil company's capital. According to YUKOS press service, the shares will be held by their sellers as a pledge until payment and other necessary procedures are completed. The acquisition of Sibneft stocks comes under the merger agreement between YUKOS and Sibneft that was announced in April 2003. YUKOS has sent related notices to the Russian Federal Securities Commission.

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