In one of the largest Chinese investments ever made in a Russian business, Cleary Gottlieb represented SIBUR in its sale of a 10 percent shareholding in the company to China Petroleum & Chemical Corp. (Sinopec), announced on December 17, 2015.
SIBUR is Russia’s leading vertically integrated gas processing and petrochemicals company; Sinopec is a major global petrochemical corporation. The transaction is considered an important step in the development of strategic cooperation between Russia and China.