Arip to take part in Exillon auction

Maksat Arip, the founder of Russian oil producer Exillon Energy, yesterday said he planned to take part in the sale process for the company after its directors gave the sale the green light on Wednesday. Arip, the company’s largest shareholder with a 30.17 per cent stake, had initially approached the company in late July. Arip said there is no certainty that he will make an offer. Exillon has hired Goldman Sachs to advise it on the sale process.