August 19, 2013 / 6:42 AM / in 5 years

Ex-Rosneft executive to buy two oil firms for $500 million: paper

BP Chief Executive Bob Dudley (L) shakes hands with Rosneft president Eduard Khudainatov after signing an agreement at BP headquarters in London January 14, 2011. REUTERS/Luke MacGregor

MOSCOW (Reuters) - Former Rosneft (ROSN.MM) executive Eduard Khudainatov, who left the Russian oil major last month, has started his own business and agreed to buy two energy firms for $500 million, the Kommersant daily reported on Monday.

Khudainatov, who served as chief executive at state-controlled Rosneft while its current CEO Igor Sechin was deputy prime minister, is buying gas focused company Geotex and oil and gas producer Payakha, Kommersant said citing sources.

It added that Khudainatov is buying assets through a firm called Independent Petroleum Company (IPC), which was established late last year. According to filings IPC was set up last December and its general director is Leonid Bidny.

Officials at telephone numbers listed for IPC confirmed that the company had been set up last year and that Bidny had been named CEO this spring. They were not in a position to comment on the deals reported by Kommersant or on IPC’s beneficial owners.

Russia’s Federal Anti-Monopoly Service (FAS), which would be required to review such deals, said it had not been notified of any takeover offers for Geotex or Payakha.

Bidny was a board member at Zoloto Kamchatki, part of energy and metals tycoon Viktor Vekselberg’s Renova group, until earlier this year.

Last month, Russian newspapers speculated that Khudainatov was interested in Alliance Oil, which is listed in Stockholm. The company denied those reports.

Reporting by Katya Golubkova; Editing by Douglas Busvine and Louise Heavens

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