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Novatek co-owner takes 25% in Sibur

      RBC, 29.04.2011, Moscow 13:04:31.Miracle, a company controlled by independent gas producer Novatek's co-owner Leonid Mikhelson, has purchased a 25% stake in petrochemical company Sibur Holding from Gazprombank for RUB 37.5bn (approx. USD 1.36bn), Gazprombank said in a financial report.

      In March, Miracle acquired 50% in Sibur from Gazprombank. It is expected to buy the rest of the shares in the petrochemical company from the bank in order to raise its stake to 100%, according to earlier reports. Mircale could pay a total of RUB 150bn (approx. 1.82bn) for 100% of Sibur, according to Gazprombank's report.

      Gazprombank said in late 2010 it had bought 75% of Sibur in 2005 based on the company's valuation at RUB 40bn (approx. USD 1.45bn). The company's value rose to over RUB 225bn (approx. USD 8.18bn) as of late December, excluding debt.

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