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Alfa Group Buys 24% Stake in Regal Petroleum

A1, an investment unit of Alfa Group, has acquired a 24.4 percent stake in Regal Petroleum, a company which produces gas and gas condensate in Ukraine, A1's president said Monday.

"We are ready to say today that we have acquired 24.4 percent [in Regal Petroleum]. The buyer is one of A1's subsidiaries, and the seller is CIS Natural Resources," A1 President Mikhail Khabarov said.

Khabarov declined to disclose the financial details of the deal, but said Regal Petroleum's revenues stood at 25.3 million pounds ($40.5 million) in 2012.

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