Sibir bidding war

Sibir Energy shares were suspended on February 19 at 174.75p after the company  revealed that it had lent $325m to  its main owner and founder, Shalva Tchigirinsky.

BP-TNK yesterday confirmed it was offering 430p a share for Sibir.

And now… (from FT.com):

Gazprom Neft, Russia’s state-controlled oil major, has entered into a bidding war for a significant minority stake in Sibir Energy, the Aim-traded Russian energy group, offering 70p a share more than privately-owned rival TNK-BP, which is half owned by BP.

Renaissance Capital, the Moscow investment bank, said on Thursday it was offering to buy minority shares in Sibir Energy for 500p a share on behalf of Gazprom Neft, which is the oil arm of state-controlled monopoly Gazprom.

The move comes one day after Credit Suisse announced it was launching a book-build on behalf of TNK-BP for Sibir shares at 430p apiece, which closes on Thursday.

Related links:

Gazprom wades into Sibir bidding war (FT)
Hurry special offer for Sibir investors
(FT Alphaville)
Sibir Energy: The saga continues (FT Alphaville)

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