Sibir unveils $340m purchase to rescue key shareholder

By A staff reporter 2008-12-10T00:00:00

Russian oil company Sibir Energy has unveiled a $340 mln (EUR 265 mln) programme to buy hotels and distressed land projects from Chalva Tchigirinski, its key shareholder and a Russian billionaire who has seen the value of his investments plummet in the wake of the credit crisis. Shares in Sibir, ...

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