Bank Otkritie FC consolidates 8.8% of RusPetro shares
MOSCOW. Feb 13 (Interfax) - Bank Otkritie Financial Corporation , the largest creditor of oil company RusPetro, has become its shareholder.
On Friday RusPetro said that Sobny Group Corporation, which as at the middle of January had acquired 76.69 million shares of the oil company (8.81% of capital) was affiliated with the bank.
Mastin Holdings Limited, a firm controlled by Sergei Gordeyev, the CEO and cofounder of PIK Group and one of the beneficiaries of Otkritie, recently became the largest shareholder of RusPetro with 24.99% of shares.
Otkritie and its associates are deemed to be acting in concert with Mastin Holdings Limited for the purposes of the CityCode on Takeovers and Mergers, RusPetro said. In total, Sobny and Mastin hold 33.8% of RusPetro, the company said.
UK law states that if the stake of companies acting in concert exceeds 30%, those entities must make an offer to buy shares from minority shareholders. However they might not be required to make an offer of their stake decreases to below 30%. Sobny and Mastin will not be able to vote with more than 30% of shares at shareholder meetings until they dispose of shares.
RusPetro, via subsidiaries, holds licenses to the East Inginsky, Pottymsko-Inginsky and Palyanovsky sections, covering 1,200 square kilometers in the middle of the Krasnoleninsk Arch in Western Siberia. It hasproven reserves totaling 225 million barrels of oil equivalent (boe) and probable reserves totaling 1.662 billion boe. Most of the reserves are located in low-permeability reservoirs in the Bazhenov suite.
Eurasia Drilling Company provides drilling services and Schlumberger is the technical partner.
RusPetro's second biggest shareholder after Sergei Gordeyev is Altera Capital, a fund set up by Kirill Androsov, a former deputy head of the government's administration.