Maxim Barsky, former deputy chief executive officer of Russian oil producer TNK-BP, is set to buy 29.8 percent of Matra Petroleum Plc (MTA) for 4.6 million pounds ($7.3 million).
Barsky agreed to subscribe for a placing of 575 million new shares at 0.8 pence apiece, subject to shareholder approval, Chertsey, England-based Matra said today in an e-mailed statement. Barsky confirmed the agreement.
The proceeds will help fund operations at Solokovskoye in Russia’s Orenburg region, while bringing “considerable new project acquisition opportunities,” Matra said.
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