| Notes |
Thanks to Russia’s controversial loans-for-shares program and the fact that president Yeltsin privatised Sibneft, both Berezovsky and Abramovich were able to buy out the business for just $100m, despite its market value of $600m.
In 2005 Abramovich sold his 72% holding to the state-controlled gas group. Forbes magazine valued him at £8bn this year, although analysts said yesterday's deal could increase this to £10bn. The deal means a massive profit for Mr Abramovich who bought 51% of Sibneft at a privatisation auction in the mid 1990s. |