Markets

China's Sinopec to pay $1.3bn for 10 percent stake in Russia's Sibur

Published December 11, 2015 Updated December 11, 2015 02:47pm

1 min

By Shoaib Ur Rehman

Add BRecorder as a trusted
source on Google

MOSCOW: China Petrochemical Corporation (Sinopec Group) will buy up to 20 percent in Sibur, Russia's top petrochemical company, Igor Artemyev, head of Russian antimonopoly watchdog, told reporters on Friday.

He added that for the first 10 percent, Sinopec will pay $1.338 billion, while it would acquire another 10 percent within next three years.

Read Comments