Tatneft selling synthetic rubber business

Almetyevsk, Russia – Russian petrochemical giant PJSC Tatneft has agreed to sell its shareholding in the Nizhnekamskneftekhim synthetic rubber business to TAIF PSC, a capital investment company focused on developing industry in Russia’s Tartarstan region.

The transaction price is $525 million (€503 million) for Tatneft’s 402.8 million shares. TAIF already owned the majority share.

Nizhnekamskneftekhim is among the larger petrochemical companies in Europe, Tatneft said, with capacities for general purpose and specialty synthetic rubbers; polystyrene, polyethylene and ABS plastics; monomers used to produce SR and plastics; and…

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