UPDATE 1-Sibir Energy secures $200 mln loan from Sberbank
* Sibir secures $200 mln loan for 2 years
* Funds go to support company's operational activity
MOSCOW, August 24 (Reuters) - Russia's biggest lender, state-controlled Sberbank SBER03.MM, said on Monday it had granted a $200 million loan to Magma, a subsidiary of mid-sized oil and gas explorer Sibir Energy SBE.L.
The facility is provided to finance the company's operational activity and has a maturity of two years.
Sberbank holds a minor stake in Sibir Energy which was pledged as loan collateral by troubled oil-to-property tycoon Shalva Chigirinsky, who faces several lawsuits in different jurisdictions to meet obligations on Western loans.
Sibir Energy has become an acquisition target for Gazprom Neft (SIBN.MM), the oil arm of the world's largest gas company Gazprom (GAZP.MM).
Gazprom Neft has amassed a stake of just under 49 percent in Sibir Energy in recent months. The Moscow city government, together with the Bank of Moscow, holds a 19.3 percent stake. (Reporting by Dmitry Sergeev; Editing by David Holmes)
- Tweet this
- Share this
- Digg this
- Mexico hospitalizes six suspected of stealing radioactive material
- Aide to North Korean leader's ousted uncle seeks asylum in South - media
- Hurricane-force winds wreak havoc in Britain, head to Europe
- China Rongsheng ghost town reflects shipbuilder's struggle to survive
- Teen stole part from wrecked Porsche in Paul Walker crash- police