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Businessman Gutseriyev owns 100 pct of oil firm Russneft - Sberbank

Reuters - UK Focus

SOCHI, Russia, Sept 27 (Reuters) - Businessmen Mikhail Gutseriyev has increased his control of Russian mid-sized oil producer Russneft after Sberbank (Other OTC: SBRCY - news) sold him its 2 percent stake in the firm, Sberbank's Chief Executive Officer German Gref said on Friday.

"We have already sold (our stake), earned good money. Gutseriyev owns 100 percent of Russneft," Gref told reporters.

Russneft was set up in the early 2000s from scratch when Gutseriyev, formerly the head of the state-controlled oil firm Slavneft, bought some of Slavneft's assets at knock-down prices soon after its privatisation.