Russian Billionaire Sells Bulk of Stake in Canadian Gas Producer
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Russian billionaire Igor Makarov’s firm sold more than half its stake in Canadian natural gas producer Spartan Delta Corp., in one of the first known public divestments of a Canadian asset by a Russian since the beginning of the war in Ukraine.
Makarov’s Areti Energy SPV, which until the sale was the largest shareholder in Spartan Delta, sold 15 million shares, representing 9.8% of the Calgary-based company, for C$8.10 ($6.44) per share, according to a Monday statement by Makarov’s Switzerland-based company Areti Energy S.A. Total proceeds were C$121.5 million.