Wednesday, December 28, 2005
Russneft considering an IPO; plans takeovers as wants to be international player
Story Russneft is considering an IPO, although the timing for potential listing is not decided as yet, stated Mikhaill Gutseriev, Russneft owner, interviewed by Vremya Novostei . Gutseriev confirmed that he holds directly a 70% stake in the company, with the remaining shares belonging to his family. According to Gutseriev , the IPO will depend on the market situation.
Gutseriev wants to establish Russneft, a Russian oil firm, as an international player. To achieve that goal he plans acquisitions in Kazakhstan, Azerbaijan, Algeria and Libya, Gutseriev told Vremya Novostei. Gutseriev confirmed that the company is already in takeover talks, but did not reveal any details.
Gutseriev expects Russneft’s next year revenues of USD 1bn.
One of the first assets targeted by Russneft will be a 49% stake in Transpetrol, the Slovakian pipeline operator, owned by the Russian oil firm, Yukos. Gutseriev expects that the transaction will exceed the price of USD 74m, paid by Yukos for this asset, by a few millions.
Russneft has recently bought Orsk and Saratovneftegaz petrochemical subsidiaries of the Anglo-Russian oil venture, TNK-BP and became a vertically-integrated holding. Gutseriev confirmed that he would talk to minority shareholders of Orsk and Saratovneftegaz to buy their stakes.
Mikhaill Gutseriev has no plans to sell Russneft, he said.
Source Vremya Novostei
Gutseriev wants to establish Russneft, a Russian oil firm, as an international player. To achieve that goal he plans acquisitions in Kazakhstan, Azerbaijan, Algeria and Libya, Gutseriev told Vremya Novostei. Gutseriev confirmed that the company is already in takeover talks, but did not reveal any details.
Gutseriev expects Russneft’s next year revenues of USD 1bn.
One of the first assets targeted by Russneft will be a 49% stake in Transpetrol, the Slovakian pipeline operator, owned by the Russian oil firm, Yukos. Gutseriev expects that the transaction will exceed the price of USD 74m, paid by Yukos for this asset, by a few millions.
Russneft has recently bought Orsk and Saratovneftegaz petrochemical subsidiaries of the Anglo-Russian oil venture, TNK-BP and became a vertically-integrated holding. Gutseriev confirmed that he would talk to minority shareholders of Orsk and Saratovneftegaz to buy their stakes.
Mikhaill Gutseriev has no plans to sell Russneft, he said.
Source Vremya Novostei
