Russneft polishes up
Moscow's first energy IPO since sanctions puts the company on a solid footing – but may make it a target
Russneft, Russia's seventh-largest oil producer, is expected to consolidate the energy assets of its main shareholder's family following November's $0.5bn initial public offering (IPO). The tidying up of the firm's interests may, however, now put it on Rosneft's radar, the acquisitive state-controlled firm. Russneft, which has a diversified portfolio of assets located in the Volga region, Western and Central Siberia and Azerbaijan, will now seek to consolidate other assets belonging to its main shareholder, Mikhail Gutseriev. Apart from Russneft, billionaire Gutseriev and his affiliates own Neftisa, an oil producer based in the Perm region; GMC Global Energy, a UK-based potash producer, and
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