Yukos and Sibneft shareholders sign protocol on companies' demerger

Representatives of the main shareholders of Yukos and Sibneft signed a protocol yesterday on the completion of the two companies' demerger. This was announced by Millhouse Capital according to the Agency for Conflict Situations. The two sides agreed to take all the necessary steps as soon as possible to ensure that the given protocol is implemented.

The original deal was announced on October 3, 2003, when Yukos shareholders bought a 92% stake in Sibneft for USD 3 billion while the main owners of Sibneft - Roman Abramovich and Yevgeni Shvidler - received a 26.01% stake in the other company. Millhouse Capital was the main Sibneft shareholder until this deal was completed. At the end of November 2003 Sibneft announced that the merger with Yukos had been called off.