Exillon Sale Eyed

Russian oil producer Exillon Energy said it might sell the company, two months after its founder, Kazakh businessman Maksat Arip, made an initial approach.

Exillon said Wednesday that it had received additional preliminary and conditional approaches in relation to an acquisition of the company and had appointed Goldman Sachs International as financial adviser.

Arip, the company's largest shareholder with a 30.17 percent stake, had approached the company in late July.

The Kazakh businessman was to announce by Aug. 27 if he was interested in making a firm offer for the company, but the deadline was extended to Sept. 27.

Shares in Exillon, which floated in London in December 2009, have risen about 23 percent since Arip made his initial approach.

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