Sberbank has become main owner of Antipinsky Refinery

WNM | May 23, 2019 at 12:51 PM

MOSCOW, May 23 (TASS) - Sberbank Group has become the main owner of Antipinsky Oil Refinery as it received ownership rights to stocks of Vikay (owner of 80% of the stocks in Antipinsky Oil Refinery), the press service of Russia’s top lender said in a statement on Thursday.

“Sberbank Group, in accordance with the laws of Cyprus and its right to collateral — a 100% stake in the holding company Vikay Industrial Limited, which was provided as collateral for the loan — has received ownership rights to Vikay’s stocks,” the statement said.

Sberbank has also decided to recover debts from Antipinsky Oil Refinery ahead of schedule and collect the collateral available to the bank.

The bank will continue to work to recover debts from debtors, guarantors and pledgers using all the opportunities provided for by the law. Moreover, it plans to establish a strategy for future work with Antipinsky Oil Refinery by the end of June 2019.

On May 20, it was reported that the Antipinsky refinery had filed a bankruptcy petition to the arbitration court of the Tyumen Region.

In 2018, especially in December, crude deliveries to the Antipinsky and Mariysky refineries owned by New Stream Group were repeatedly suspended due to the lack of route orders. In mid-December, the company reported that crude supplies to Antipinsky Refinery and Afipsky Refinery controlled by the group were fully resumed on December 13-14 following finalization of loan facilities provided by Sberbank to refineries.

In March, a source told TASS that Sberbank and New Stream planned to find a new owner for the Antipinsky refinery within 4-6 months. It was reported that shareholders decided to sell Vikay Industrial — a parent company of the Antipinsky refinery and New Stream Group.