Kazakh Businessman Proposes Exillon Energy Buyout
- Jul. 31 2013 00:00
- Last edited 20:45
Russia-focused oil producer Exillon Energy said it had been approached by its largest shareholder and former chairman, Maksat Arip, about a possible offer for the company.
The company said the Kazakh businessman holds a 30 percent stake and that talks were at an early stage.
Exillon's biggest institutional shareholder, Worldview Capital Management, called for a management overhaul and strategic review in January amid what it called "significant underperformance."