London-listed oil producer Sibir Energy PLC (SBE.LN) said Monday Russian oil major OAO Gazprom Neft (SIBN.RS) has made a new offer, through Renaissance Securities Ltd., to buy minority shares at 500 pence each.
Sibir said it will post a letter Monday to overseas shareholders "in certain overseas jurisdictions informing them that it may be possible for them to sell their Sibir ordinary shares of 10 pence each at 500 pence (to) Renaissance Securities Limited (...) on behalf of Gazprom Neft."
Gazprom Neft, controlled by gas giant OAO Gazprom (GAZP.RS) has since April bought minority shares in troubled Sibir Energy. Gazprom Neft controls 27.5% of ordinary shares in the company, Sibir said at the end of May.