Silk Road Fund Purchases 10% Equity of Russian Sibur

Silk Road Fund announced on December 14, 2016 that it has reached an agreement with Russia based Sibur to buy 10% of its share for a consideration of exceeding Euro 1.1 billion.
Sibur is a Russian leading firm in natural gas production and petrochemical products.
The deal is subject to permission from the Russian government. As the financial investor, Silk Road Fund will get a chance to nominate a board representative.
So far, the Chinese parties have a 20% share of Sibur in total. Another 10% stock was purchased by Sinopec in the end of 2015.
Sibur is one of the leaders in petrochemical industry in Russia which runs the largest oil field gas processing equipment in the nation. Sibur has successfully developed the petrochemical industrial cluster in Tobolsk, Russia, and is currently working on the project second phase.