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. Last Updated: 07/27/2016

$450M for Oil Merger

MOSCOW -- A plan to unify the Rosneft, Slavneft and Onako oil companies would cost $450 million to carry out, a senior State Duma deputy said Thursday.

The $450 million sum is the cost of stakes in the three companies that the state would need to buy from private investors to effect the proposed merger, Valery Yazev, chairman of the lower house fuel subcommittee, told a news conference in Moscow.

He suggested making the new group a financial holding company that will manage the three enterprises via controlling stakes in them.