A PYMNTS Company

Russia: FAS clears Rosneft’s total Alrosa takeovers

By  |  January 21, 2014

Russia’s Federal Antimonopoly Service announced clearance for oil giant Rosneft to acquire 100 percent of Alrosa’s Geotransgaz and Urengoi Gas Company, the watchdog announced. Rosneft’s president Igor Sechin only recently announced interest in the buyouts as part of an agenda to expand its gas preserves portfolio. Alrosa is Russia’s diamond monopoly and consolidated both companies in spring of last year for $1.1 billion.

Full Content: The Moscow Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.