LONDON (Alliance News) - RusPetro PLC said Bristol Technologies Ltd and Nervent Ltd, both owned by the Chairman of RusPetro, Alexander Chistyakov have entered into a sale and repurchase agreement for 43.5 million shares with Makayla Investments Ltd, owned by founder investor in RusPetro, Andrey Rappoport.
As part of the deal, the shares, which represent 13.1% of RusPetro, will be sold to Makayla and then repurchased within 180 days from the contractual date of December 31 2013.
Following the sale of shares, Chistyakov holds 13.8 million shares in RusPetro, or 4.1% of its shareholding.
RusPetro shares were up 5.3% to 28.96 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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