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Exillon's biggest shareholder says no plans to raise stake

Reuters - UK Focus

Dec 17 (Reuters) - Seneal International Agency Ltd, controlled by Russian billionaire Alexei Khotin, said it does not plan to raise its stake in Exillon Energy Plc (LSE: EXI.L - news) , two weeks after saying that another company he controls may bid for the oil producer.

Seneal is the largest investor in the London-listed company with about 30 percent stake that it bought from Exillon's founder, Kazakh businessman Maksat Arip.

RusOil Group, which is controlled by Khotin, was exploring an offer for Exillon, Seneal said on Dec. 4.

This pitted Khotin against Exillon's second-largest investor, Russian businessman Mikhail Gutseriev, who on Dec. 3 said he was considering making an offer.

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Seneal said on Tuesday that it reserved the right to make or participate in an offer for Exillon within the next six months.

Exillon shares closed down 2.2 percent at 210.25 pence on the London Stock Exchange (Other OTC: LDNXF - news) on Tuesday.