MOSCOW (MRC) - There have been changes in the structure of the SIBUR Group and the structure of the share capital of JSC NIPIGAZ, the company said in a statement.
The General Meeting of Shareholders of PJSC SIBUR Holding has resolved to pay dividends in the form of shares in JSC NIPIGAS held by PJSC SIBUR Holding. The authorised capital of JSC NIPIGAS has remained unchanged. Following the dividend accrual, none of the beneficial owners of JSC NIPIGAS will hold, directly or indirectly, a stake of over 25 percent in the company's authorised capital.
JSC NIPIGAS ceases to be a subsidiary or an affiliate company within the SIBUR Group, and its financial results will no longer be presented in the financial statements of PJSC SIBUR Holding. Going forward, JSC NIPIGAS will be preparing its consolidated IFRS statements on its own.
As per MRC, SIBUR International and TAIF Group have finalised a deal to merge and create the largest petrochemical company in the country and one of the biggest in the world.
Earlier it was reported that the European Commission approved the deal on 1 October.
TAIF JSC is the parent company of the largest non-public group in the Russian Federation. The group's netted revenue over the past 12 months amounted to more than RUB 720 billion. TAIF plans to enter the production of commercial products in the amount of more than 1.7 trillion rubles by 2035. per year, for this planned investment of 1.8 trillion rubles. for the next 15 years.
SIBUR manufactures and sells petrochemical products on the Russian and international markets in two business segments: olefins and polyolefins (polypropylene, polyethylene, BOPP, etc.), as well as plastics, elastomers and intermediate products (synthetic rubbers, expanded polystyrene, PET, etc.) .
MRC