Arkadiy Abramovich, 19, who has a controlling stake in Aim-listed cash-shell Zoltav, has used the company to snap up an oil field in Siberia in a $46m (£30.5m) deal. Zoltav, which is 45pc owned by Ambramovich junior's ARA Capital investment vehicle, is reportedly buying CenGeo Holdings for $26m, issuing new shares in a reverse takeover. CenGeo owns the Koltogor oil discovery in Western Siberia, which is yet to be developed. ARA has also pledged to invest $20m in return for new shares, according to reports last night. The move comes eight years after Abramovich senior sold his majority stake in Sibneft, netting $13bn. The Zoltav deal could be announced as early as today.
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