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43

Russian Diamond Monopoly Bought Oil Company

Sakhaneftegaz is a holding company that owns controlling stakes in a few oil & gas companies

Russia's diamond giant ALROSA has acquired 50.4% interest in oil company Sakhaneftegaz on 6th February, 2006.

Sakhaneftegaz is not engaged in any independent production activity and is a holding company that owns controlling stakes in a few oil & gas companies in Sakha (the republic of Yakutia), including 92.6% in Gazprom's unit Yakutgasprom and 85.5% in Lenaneftegaz.

The controlling stake in Sakhaneftegaz was acquired from structures close to BIN Bank.
ALROSA?s financial advisor in this transaction was TRUST Investment Bank.