6 Feb 2023 14:39

Putin allows SIBUR to purchase Solvin's stake in RusVinyl JV

MOSCOW. Feb 6 (Interfax) - SIBUR petrochemical holding has received permission to buy out a 50% stake in the charter capital of RusVinyl LLC from Solvin Holding Nederland B.V.

The corresponding instruction from Russian President Vladimir Putin has been published on the government's official internet portal of legal information.

The document notes that no other permits or approvals provided for by Russian legislation are required to complete this transaction.

As reported, in August 2022, Putin signed a decree banning transactions for the purchase and sale of shares in companies included on the list of strategic enterprises and joint-stock companies, as well as companies that process oil and petroleum feedstock and produce products from processing them.

RusVinyl LLC is a joint venture between SIBUR and the Belgian Solvay Group for the production of polyvinyl chloride and caustic soda. The production complex has been operating since 2014. Its capacity is 300,000 tonnes of suspension, and 30,000 tonnes of emulsion polyvinyl chloride per year. Output of caustic soda is 225,000 tonnes per year.