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Rosneft plans to finalize acquisition of SANORS in Q1 2015

by ChemOrbis Editorial Team -
  • 30/12/2014 (15:25)
According to market sources, Russia’s Rosneft plans to finalize its acquisition of SANORS in the first quarter of 2015. The estimated value of the acquisition was reported at $1 billion.

Initial talks on the acquisition were started in May 2014 and the deal had been expected to be closed by the end of the third quarter of 2014. However, the conclusion of the deal was delayed because of the necessity of obtaining anti-trust approvals from other countries, although the deal was approved by Russia’s anti-trust authorities in July.

Meanwhile, SANORS is planning to build a pyrolysis plant which will be able to produce 1 million tons/year of ethylene and is also planning to expand its product slate to include high-tech polymers and plastics.
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