Last checked at 21 Dec 2016 11:55
Tatneft has entered into a transaction to sell its shares in Nizhnekamskneftekhim
21 December 2016
PJSC TATNEFT has entered into an agreement to sell its shares in PJSC Nizhnekamskneftekhim (402,813,999 ordinary shares) to TAIF PSC. The value of the transaction is approximately 32 billion Rubles. In accordance with the terms of agreement the parties intend to complete settlements and close the transaction by the end of 2016.
The transaction to sell the shares in Nizhnekamskneftekhim does not alter Tatneft's plans to develop its petrochemical business, including by collaborating with Nizhnekamskneftekhim and other entities in Tatarstan.
This press-release contains inside information.
Forward-looking statements: 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. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.