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“Commersant”. “Sistema’s” oil producing assets go to “RussNeft”.

11.10.2004

Yesterday evening corporation “Sistems” announced closing of the deal of selling all its oil assets for $ 288,5 mln. The buyer was “RussNeft”, which by means of this acquisition increased its annual oil production form 3 million tones up to approx. 6 million tones.

Yesterday evening corporation “Sistems” announced closing of the deal of selling all its oil assets for $ 288,5 mln. The buyer was “RussNeft”, which by means of this acquisition increased its annual oil production form 3 million tones up to approx. 6 million tones. Noteworthy is the fact that in December of 2003 “RussNeft” planned to pay for these assets $ 67,5 mln more. Both “RussNeft” and “Sistema” refused to make any comments in this regard.


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