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Comment Business & Economics

Russian petrochemical companies SIBUR and TAIF merge

By Scott Jenkins |

SIBUR International GmbH (Moscow, Russia; www.sibur-int.com) and TAIF Group (Kazan, Tartarstan, Russia; www.taif.ru) have entered into an agreement finalizing the creation of a combined entity that will leverage the facilities of PJSC SIBUR Holding and create the largest petrochemical company in Russia and one of the biggest in the world. Under the agreement, TAIF shareholders will receive a 15% stake in the new combined company in exchange for 50% plus 1 share in JSC TAIF. To ensure faster integration and higher efficiency of the combined entity’s operations and investment program, the parties have agreed on an early exercise of an option for the remaining stake of TAIF’s shareholders. SIBUR’s financial obligations in the second phase of the transaction will be secured by several issues of exchange-traded bonds. As a result, in a matter of days required to finalize the deal the combined entity will consolidate 100% of the shares of TAIF Group, which includes petrochemical and energy companies. The new company will support Russia’s leadership in the chemical, petrochemical and oil & gas sectors while making the country’s products more globally competitive thanks to economies of scale, higher production efficiency,…
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