Aminex to sell shareholding

Aminex, the oil and gas company listed on the London and Irish Stock Exchanges, announced yesterday that it has completed an agreement to sell its shareholding in OAO Ideloil, an oil company operating in the Russian internal republic of Tatarstan, to Dolkono Holdings Limited and Nereids Holdings Limited.

Total consideration payable to Aminex is $2.2 million, all of which is to be satisfied by cash payments. $1.2m relates to the repayment by OAO Ideloil of outstanding loans and accrued interest due to Aminex and the balance of $1.0m relates to the equity interest itself.