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ChelPipe Group selling oil services division Rimera to controlling shareholder for 6.8 bln rubles

ChelPipe Group selling oil services division Rimera to controlling shareholder for 6.8 bln rubles
CHELYABINSK. March 9 (Interfax) - The ChelPipe Group is selling its oil services division to its controlling shareholder Andrei Komarov for 6.776 billion rubles, according to a company statement.
The purchase-sale agreement was signed on March 5 and states that payment for a 99.9999% stake in Rimera must be received within a month.
It was reported on March 4 that ChelPipe would sell JSC Rimera and the Rimera group s Alnas and Izhneftemash plants. It emerged on March 5 that Komarov was buying LLC Rimera-Alnas for 1.172 billion rubles.
The decision to sell ChelPipe s shares in JSC Rimera and the stake in LLC Rimera-Almas to Andrei Komarov was reached in the framework of the Rimera Group s restructuring. As a result of the deal, Komarov will own 99.9% of JSC Rimera and will be the sole owner of LLC Rimera-Anas, ChelPipe told Interfax. ....

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Inside Clean Energy: Warren Buffett Explains the Need for a Massive Energy Makeover

Inside Clean Energy: Warren Buffett Explains the Need for a Massive Energy Makeover
A man whose empire includes energy companies says investment in interstate power lines is expensive but essential.
March 4, 2021
Philanthropist Warren Buffett is joined onstage by 24 other philanthropist and influential business people featured on the Forbes list of 100 Greatest Business Minds during the Forbes Media Centennial Celebration at Pier 60 on September 19, 2017 in New York City. Credit: Daniel Zuchnik/WireImage via Getty Images
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Warren Buffett’s annual letters to shareholders are an entertaining read, as if your great-uncle was an investing savant.
In this year’s edition, released on Feb. 27, Buffett has something to say about the transition to clean energy and the necessity of making vast investments in interstate power lines. ....

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Union Pacific names new chief legal officer

Union Pacific names new chief legal officer
Union Pacific today named Craig Richardson executive vice president, chief legal officer and corporate secretary. Richardson is responsible for overseeing all aspects of the company’s legal affairs, including commercial transactions and litigation, regulatory matters, labor and employment. Richardson also supervises the railroad’s compliance and ethics program, and risk management initiatives, including Union Pacific’s police department. He succeeds Rhonda Ferguson, who served as executive vice president, chief legal officer and corporate secretary.
Richardson most recently served as vice president of commercial and regulatory law. He’s also held the position of associate general counsel. ....

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