Abramovichs Son to Buy Oilfield

The Moscow Times
Thursday 21st March, 2013

Roman Abramovich will buy an oil field in the Khanty-Mansi autonomous district in Western Siberia, Kommersant reported Thursday. Arkady Abramovich’s Zoltav Resources is planning to buy GenGeo, which owns the Koltogorskoye oil field, for $26 million. GenGeo is controlled by Valentin Bukhtoyarov, a co-owner of coal mining company Sibuglement. The information on the purchase was published on the London Stock Exchange’s website. Under the deal with the 19-year old Arkady Abramovich, Bukhtoyarov will get 29.1 percent of Zoltav Resources, while Abramovich’s investment fund ARA Capital will hold 4…

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