Sibur, Russia's largest petrochemical company, said Wednesday Chinese state-owned investment fund Silk Road Fund was to take a 10% stake in the company.
"The Silk Road Fund is a financial investor and will have an opportunity to nominate its representative to Sibur board of directors," Sibur said.
The deal is subject to Russian regulatory approval.
Sibur's existing shareholders include Sinopec -- China's largest refining and petrochemical enterprise -- with a 10% stake acquired at the end of 2015.
Sibur chairman Leonid Mikhelson said the deal would "strengthen its positions in the international market. We are confident that our cooperation will contribute to further development of economic ties between Russia and China".
