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Sibir Energy plc
Tender Offer by Gazpromneft followed by negotiation of the terms of a recommended offer for minority stakeholders
£327 million + £126.4 million
Background
In May 2009, having previously given advice to Sibir Energy plc (“Sibir” or the “Company”) in relation to a Tender Offer by Gazpromneft valued at £327 million, Strand Hanson advised the Board of Directors of Sibir on the recommended cash offer by Gazpromneft to acquire minority shareholdings in the Company for a total consideration of £126.4 million. The offer valued Sibir’s entire issued share capital at £1.9 billion, making it the largest company listed on AIM by market capitalisation.
Strand Hanson was engaged as financial advisor to the Board of Sibir, and the mandate included detailed valuation analysis, advice to the Independent Board of the Company and negotiation with Gazpromneft and its advisors.
Sibir, has subsequently been de-listed from AIM and is now managed from Moscow.