Investment company A1, part of the Alfa Group consortium, has announced the signing of a deal to purchase a 24.43% stake in Regal Petroleum, with an option to increase its stake later, according to a statement made by the press center of A1.
The shares in the British oil and gas company holding assets in Ukraine were purchased from CIS Natural Resources Fund (under control of Curzon Alternative Investments), with A1's company Crosson Ltd on the buying side. The parties keep the transaction value private.
A1 obviously sees good value-added potential in Regal Petroleum. Being a large shareholder, A1 intends to maximize the company's capitalization in the near future contributing, among other efforts, to management decisions.
Investment company A1 is the key investment unit of the Alfa Group consortium.
A1 manages a portfolio of asset in various market segments of Russia and FSU countries. Alfa Group established in 1989 is one of the largest private financial and industrial consortia in Russia. The Group's key investments were made in the Alfa Bank banking group, AlfaStrakhovanie Group, Alfa Capital Management Company, Alfa Capital Partners, Altimo, X5 Retail Group N.V., A1, Rosvodokanal group.