19 Feb 2020 14:45

Rosneft consolidates 100% of IT-integrator Sibintek, values it at 1.7 bln rubles

MOSCOW. Feb 19 (Interfax) - Rosneft in December 2019 and January 2020 acquired control over IT-integrator Sibintek with two deals that assumed a valuation of the company of 1.7 billion rubles, Rosneft said in reporting.

In December, Rosneft closed a deal on the acquisition of 49.51% of Sibintek LLC for 842 million rubles, boosting its share to 98.5%, and then bought the remaining 1.5% of shares for 25.5 billion rubles in January.

According to SPARK-Interfax data, Sibintek's revenue in 2018 came to 49.3 billion rubles, with net profit at 2 billion rubles. Prior to the consolidation of the 100% stake by Rosneft, its partners in Sibintek were entities affiliated with the Region Investment Company.

Rosneft first acquired a stake in Sibintek in 2007 as part of the bankruptcy sale of Yukos assets.