Russia to Sell Majority of Sidanko: The...
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Russia to Sell Majority of Sidanko: The Russian government will sell a 51% stake in AO Sidanko, the country’s third-largest oil producer, on Dec. 7, an official said. The government will auction the entire stake at a starting price of $125 million, said Igor Plotnikov, spokesman for the State Property Committee, which is handling the sale. Only Russian companies and joint ventures in which foreign participation is limited to 25% will be welcome to bid. Sidanko officials are unhappy with the decision and may not cooperate in the sale. Company officials had wanted to sell four equal stakes of 12.5% to strategic investors.
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