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. Last Updated: 07/27/2016

Sibur Changes Its Structure

Sibur Holding, currently an open joint stock company, will reorganize as a closed joint stock company, freeing it of the requirement to publish financial accounts and other material concerning operations, the company announced Monday.

Shareholders approved the necessary amendments to the company charter and other key documents at a meeting on Jan. 11.

It was reported earlier that a structure belonging to Novatek chief and co-owner Leonid Mikhelson acquired a 25 percent stake in Sibur on Dec. 23. Mikhelson ultimately plans to raise his stake in Sibur to 100 percent.