Putin allowed SIBUR to buy out a stake in RusVinyl JV from Solvay
[ad_1]
SIBUR received permission from Vladimir Putin to buy out 50% in their PVC joint venture RusVinyl from Belgian Solvay. The corresponding order of the President published on the portal of legal information.
RusVinyl LLC has been registered in Kstovo since 2007. The authorized capital exceeds 28.5 billion rubles. The main activity is the production of basic chemicals, fertilizers and nitrogen compounds, plastics and synthetic rubber in primary forms. At the end of 2020, with revenue of 27.8 billion rubles. net profit amounted to 1.8 billion rubles.
In March 2022, the government issued resolution, according to which all transactions and operations of Russian companies with citizens and firms from “unfriendly” countries must now be approved by a government commission. In September, President Vladimir Putin signed a decree on a special procedure for transactions with shares in Russian LLCs for persons from “unfriendly” countries. In December Mr Putin also allowed the government to approve transactions with sanctioned persons.
[ad_2]
Source link
