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. Last Updated: 07/27/2016

Sidanko Stake Acquired

MOSCOW -- Cyprus-registered Kantupun Holding Company has acquired a 45.15 percent stake in Russia's Sidanko oil holding company, a Kantupun news release said Monday.


The unknown Kantupun granted a loan to Sidanko last year and received a 34 percent stake in the oil company, which at the time was owned by Russia's powerful bank Uneximbank, as collateral for the loan.


Uneximbank sources had said at the time that the Royal Dutch/Shell group was interested in acquiring part of the stake.


The bank declined to elaborate Monday on the identity of Kantupun. Russian law limits foreign ownership of domestic oil firms to 15 percent of registered capital.