Support The Moscow Times!

Gutseriyev Mulls Offer for Full Ownership of Oil Firm Exillon

Oil producer Exillon Energy's second-largest shareholder, Mikhail Gutseriyev, has approached the company to discuss a possible offer.

Hanberg Finance, owned by Russneft owner Gutseriyev, said Tuesday that it could offer not less than 300 pence ($4.93) per share in cash to buy the 85.1 percent stake in Exillon that it did not already own.

Exillon put itself on the block in mid-October after an approach from its founder, Kazakh businessman Maksat Arip, prompted additional preliminary approaches.

The company was valued at 428 million pounds ($701 million) as of the close of trading on Monday.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.