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Rosneft Completes SANORS Purchase Transaction
13 March 2015Company of Rosneft Group completed the transaction on purchase from SANORS Holding Limited of 100% of shares of JSC “Novokuibyshevsk Petrochemical Company” (SANOR holding). The transaction was completed after obtaining all the necessary approvals from antimonopoly and regulatory authorities. The purchase of SANORS holding is in line with Rosneft Long-term Development Strategy and implies a profound integration of Rosneft oil and gas production and refining assets with existing SANORS Holding petrochemical production facilities. The synergistic effect of the integration will help to strengthen the vector of petrochemical development and increase the added value of production.
This transaction will allow Rosneft to develop its own line of import substitution as well as meeting growing domestic demand for key polymers and other chemical products, viable commercially in the Russian market regarding their quality and technological characteristics. The integration of the SANORS holding in the perimeter of Rosneft will have a stimulating effect on the economy of the Novokuibyshevsk and Samara region as a whole.
Commenting on the results of transaction’s completion, Igor Sechin said: “Consolidation of the production capacities of Rosneft and SANORS holding will allow creating a unique business asset for the Samara region. As a result of this mutually beneficial business alliance, a new promising player will appear at the Russian petrochemical market. At the same time this agreement will extend Rosneft’s access to the marketing outlets for high margin production”.
Notes for editors:
The agreement of sale and purchase between a company of Rosneft Group and SANORS Holding Limited was signed in the course of St.Petersburg International Economic Forum on May, 23 2014.
Rosneft has modern and powerful facilities for oil and gas production, oil and gas refining, as well as scientific units and its own marketing network in the Samara and Orenburg regions.
SANORS holding was established in 2011 as a result of a merger of the largest petrochemical companies of Novokuibyshevsk. In December 2013, after integration of 4 organizations, one legal entity, Novokuibyshevsk Petrochemical Company, was established.
The List of output products of the holding enterprises includes over 50 items. Total salable production of the company amounted to 1.5 million tons. The sales geography covers more than 20 countries. Currently there are about 5000 employees in company.
Rosneft Information Division
Tel.: + 7 (499) 517-88-97
March 13, 2015
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements