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M&A: Rosneft consolidates 99.54% of RN Holding's common shares

Rosneft increased its holding of common shares in OJSC RN Holding to 99.54% from 89.64%, Rosneft informed.

Rosneft now owns 84.67% of RN Holding's common shares indirectly, 14.87% directly.

It will be recalled that in 2013, Rosneft Oil Company made an offer to RN Holding's minority shareholders. 7,195 individuals and 208 legal entities including international financial funds accepted Rosneft's non-mandatory offer presenting a total of 2,326,808,924 RN Holding shares for the buyback.

As stated by Rosneft, the shares acquired pursuant to the offer will be transferred to the company's account before February 4, 2014. Payment for the securities shall be effected no later than February 19, 2014.

The RN Holding shareholders submitting their applications after January 20, 2014 (after the acceptance period for the non-mandatory offer expired) will be allowed to offer the company to purchase their shares at the price specified in the non-mandatory offer pursuant to a specially developed interaction scheme under the existing laws.

OJSC RN Holding (tax number: 7225004092) is Russia's third largest petroleum company. Its principal shareholder is Rosneft Oil Company.

IFRS net profit of RN Holding for 2012 grew by 1% to RUB 280 billion. Sales revenue increased by 9% to RUB 1.241 trillion from RUB 1.139 trillion.

According to the information and retrieval system DataCapital, RAS net profit of RN Holding for 9 months 2013 dropped 3.3-fold to RUB 36.681 billion. Revenue decreased by 28% to RUB 561.386 billion from RUB 780.201 billion, sales profit 4-fold to RUB 31.641 billion from RUB 131.319 billion, pre-tax profit 3-fold to RUB 43.433 billion from RUB 136.264 billion.

Rosneft Oil Company (tax number: 7706107510) is the largest oil company and largest tax payer in the Russian Federation. In 2013, Rosneft's proved SEC compliant reserves increased by 11.5% to 33.014 billion boe. The company increased daily production of hydrocarbons by 80% to 4.873 million barrels.

The company's authorized capital is RUB 105.981 million. This amount is represented by 10,598,177,810 common shares at par value of RUB 0.01. The company's largest shareholder is state-owned company Rosneftegaz.

IFRS net profit of Rosneft for 2013 grew by 51% to RUB 551 billion from RUB 365 billion the year before. Sales revenue was RUB 4.694 billion, EBITDA amounted to RUB 947 billion.

"AK&M", 06.02.2014


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