Ameris will buy Kaliningrad Neft from Arcadi Gaydamak in a parties at interest transaction.
Arcardi Gaydamak's Israeli holding company, Ameris Holdings Ltd. (TASE:AMRS.B1), will buy a Russian oil company, Kaliningrad Neft Company, from a private company owned by Gaydamak and registered in the British Virgin Islands. Ameris's board has approved the parties at interest transaction.
Ameris will establish a Cypriot-registered company, which will acquire the Russian oil company from Gaydamak's British Virgin Islands company that owns 99% of Kaliningrad Neft, in exchange for 120,000 Ameris shares. Third parties own the remaining 1% of Kalingrad Neft.
With the completion of the deal, Gaydamak will own 75% of Ameris and US businessman Levi Kushnir will own 25% through Kital Holdings And International Development Ltd.
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007