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2006 FT Article On Sergei Alexeev ( In Charge Of Securing Financing) High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. https://www.ft.com/content/d8d88150-b3c9-11da-89c7-0000779e2340#ixzz4LStMxrVs March 15, 2006 2:00 am Rosneft looks to US banker to head IPOBy Neil Buckley in Moscow and Arkady Ostrovsky in Usinsk Rosneft is preparing to recruit an American investment banker, Peter O'Brien of Morgan Stanley, as a senior executive to head the state-owned Russian oil giant's preparations for what could be the world's biggest initial public offering. The approach to Mr O'Brien comes less than three months after Russian President Vladimir Putin offered the role of Rosneft chairman to Donald Evans, the former US commerce secretary, in an apparent effort to make Rosneft more investor-friendly. Mr Evans declined, citing other commitments. It also follows the surprise resignation last month of Sergei Alexeev, Rosneft's chief financial officer, which had prompted concerns among analysts that the Rosneft IPO could be delayed. Mr O'Brien would become one of the few senior foreign executives at a Russian state-owned company. The offering is planned in part to repay a $7.5bn bridging loan that was extended to Rosneftegaz, Rosneft's state parent company, used as a vehicle last year to increase the state's stake in Gazprom, the Russian natural gas monopoly, from 38 per cent to 51 per cent. German Gref, Russia's economy minister, yesterday said the IPO would raise $15bn-$19bn and take place by October, but the company has indicated it hopes to raise up to $20bn. At the top end of the range it would surpass the $18bn offering of NTT DoCoMo, the Japanese mobile phone operator, in 1998. The IPO is expected to value Rosneft at well over $50bn. People close to Rosneft confirmed that Mr O'Brien, currently a vice president in Moscow of Morgan Stanley - long-time advisers to the oil group - was expected to join the company as vice president for strategy. Mr O'Brien did not return calls seeking comment. Rosneft has a reputation as one of Russia's least transparent companies. It also has a controversial image after it bought the main operating unit of the Yukos oil company in a forced auction, following the legal assault on what was previously Russia's biggest oil group and its founder, Mikhail Khodorkovsky. Its $9.35bn purchase of Yuganskneftegaz turned it into Russia's number three crude producer. But plans to merge it with Gazprom to create a single state-controlled oil and gas champion were abandoned last year after Yukos threatened prolonged legal action against Rosneft over the Yuganskneftegaz purchase. Industry sources said Mr O'Brien, a fluent Russian speaker, could be a significant asset to Rosneft as it attempted to woo foreign investors. As well as several years' experience working with Rosneft, he also advised on share issues by Lukoil, the Russian oil company, and Novatek, the independent gas producer. |
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124206 | Re: 2006 FT Article On Sergei Alexeev ( In Charge Of Securing Financing) | killerbee2 | 0 | 9/27/2016 11:03:00 AM |