West Siberian Resources will enter in the Alliance Yesterday in Stockholm the memorandum of association of two oil companies has been signed. The new vertically integrated company is created as a result of merge to an under control family of Bazhaevyh NK the Alliance which largest active is Khabarovsk NPZ, with West Siberian Resources (WSR), extracting oil in Russia and bargaining on a stock exchange of Stockholm. Experts consider that merge of actives will allow to achieve good sinergeticheskogo effect, and cost of the new company will reach $2,3-2,5 billion Yesterday in Stockholm the memorandum of association of actives WSR and Open Society " have been signed; NK Alliance one of participants of the market has told . As has specified other source , familiar with the transaction details, Bazhaevyh belonging to a family group the Alliance supervising NK the Alliance will receive a controlling stock in WSR. The definitive agreement on association is supposed to be signed in two weeks. In advantage the Alliance which actives, according to the interlocutor , have estimated in $1,5 mlrd, additional actions WSR will be let out. In the incorporated company the Alliance will receive 60 %. For the permission of antimonopoly bodies of the company will address after signing of all agreements. By advisers for the transaction are chosen the Three Dialogue and Morgan Stanley. Representatives the Alliance and WSR have refused comments.
as a result of association of actives the Alliance and WSR in Russia there will be a new vertically integrated petrocompany. Now at WSR, extracting about 1,5 million t oil in a year, is not present the processing actives, except for small Aleksandrovsky NPZ in the Tomsk region capacity of processing of 60 thousand t oil in a year.
at NK the Alliance Owning Khabarovsk NPZ (processing volume - 3,2 million t oil in a year), is only small extracting division - working in Tatarii Tatnefteotdacha (430 thousand t in a year). Thus the Alliance carries out reconstruction NPZ, and by 2011 the processing volume on it will make 4,5 million t, and its depth will increase from 61 % to 91,5 %.
WSR it is registered on the Bermudas, its actions bargain at a stock exchange of Stockholm, and extracting actives are located in the Tomsk region, Timano - Pechora and Volgo - Ural provinces. Extraction in 2007 has made 1,5 million t, next year the company plans to raise it to 2 million t, by 2011 - to 4 million t in a year. The gain for nine months 2007 has made $245,9 million, profit - $25,05 million proved and probable stocks of oil on the international classification for January, 1st, 2007 - 41,8 million t. Yesterday company capitalisation made $992,6 million The largest shareholder is fund Alltech Investments under control to Dmitry Bosovu. 9,2 % WSR belong Spanish Repsol YP.
Open Society NK Alliance on 100 % belongs to Open Society Group Alliance which on 82,8 % is supervised by a family of Bazhaevyh, at Musy and Deni Bazhaevyh - on 29,9 %, at Mavlita Bazhaeva - 23 %. The companies belong Khabarovsk NPZ, 261 tank farm and the gas station in the Far East and Tatnefteotdacha . The gain on RSBU for nine months 2007 makes 14,3 mlrd rbl., profit - 79,5 million rbl.
About possibility of attraction of new investors NK the Alliance spoke for a long time, not excepting carrying out IPO in 2007. Advisers by preparation IPO also were the Three Dialogue and Morgan Stanley. However placing has been postponed, and in the end of 2007 the head of group the Alliance Musa Bazhaev said that at IPO can be the nonconventional form . Then he has told that the company finishes the transaction on purchase of actives in Russia therefore can extract by 2011 4-5 million t oil in a year. During preparation to IPO from NK the Alliance the Ukrainian actives - about 150 gas stations and a share in Kherson NPZ have been deduced. So the Russian enterprises will be involved in the transaction with WSR " only; the Alliance in oil and gas sector.
according to sources , after transaction end under the arrangements reached by the parties operating management WSR will keep the posts. The company board of directors will be headed by operating chairman Eric Forss.
Branch experts consider the transaction successful for both companies. association of actives will allow to provide sinergetichesky effect and will improve positions WSR in the market - - analyst FK " marks; Uralsib Evgenie Dyshljuk. It reminds that the company had plans on building of own processing capacities as the existing tax mode stimulates oil industry workers to sell not raw materials, and the oil products made from it. An analyst the WHALE of Finans Konstantin Tcherepanov estimates the petrocompany the Alliance approximately in $1,3 mlrd, thus, cost of the incorporated company, in its opinion, can make about $2,3 billion According to sources , participants of the transaction are more optimistical, estimating the incorporated company in $2,5 billion