OREANDA-NEWS. December 19, 2008. Board of Directors of SIBUR Holding JSC has decided to divest the company’s methanol business in order to focus on developing its core activities.

Sibmetakhim LLC (a joint venture between SIBUR Holding and Vostokgazprom) has sold its 33.4602% shareholding in OJSC Metafraks to IK Troika Dialog, acting on behalf of a buyer.

SIBUR Holding’s exit from the joint venture is now being formalized through a reorganization of Sibmetakhim, leaving Vostokgazprom subsidiaries Metanol and Tomskgazprom as the company’s shareholders.

Any future relationship between Sibmetakhim and SIBUR Holding will be on the basis of commercial contracts.