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Russian SIBUR closes deal on sale of 10% stake to Chinese Silk Road Fund

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Russian SIBUR closes deal on sale of 10% stake to Chinese Silk Road Fund

PJSC SIBUR Holding, a Russian gas processing and petrochemicals company, closed a deal on the sale of 10% of its assets to the Silk Road Fund, a Chinese investment fund engaged in infrastructure projects in the countries situated along the New Silk Road with the aim of Chinese production distribution.

“Today, shareholders of SIBUR, Russia’s largest gas processing and petrochemicals group, and the Chinese investment Silk Road Fund have closed a deal on acquisition of 10% of SIBUR’s stake by the fund, after all permits were granted by the regulatory bodies,” the message released by SIBUR reads.

The corresponding document was signed by the parties on the 14th of December, 2016. In January, the deal was agreed by the Russian governmental commission for control of foreign investments in Russia.

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