Interfax reported that the price of the offer Russian oil and gas company Surgutneftegas is making to buy up shares from minority holders in OJSC UTair Airlines has been set at RUB 14.41 apiece.

As per report, the offer Surgutneftegas is making could net it 255,808,131 shares which would represent 44.32% of the airline capital.

In January, Surgutneftegas put an offer on the table to buy up 44.32% of UTair shares from its minority shareholders. The company had acquired 55.68% of UTair on December 31.

Russia's Federal Antimonopoly Service has given Surgutneftegas the go-ahead to acquire 75.5% of UTair shares.

(Sourced from Interfax)