Analysts had predicted a six month negotiating period for the complex deal to be unpicked but an early conclusion was made possible when Yukos dropped demands for Sibneft shareholders to pay compensation.
The move follows a February 2nd agreement which saw shareholder representatives of the two companies sign an agreement to implement the de-merger protocol within the shortest period of time possible.
The original deal would have seen Yukos purchase 92% of Sibneft from Millhouse Capital, controlled by billionaire Roman Abramovich, for cash and stock.
ExxonMobil is now seen as the leading contender for a significant stake in Yukos, but once again any deal would have to wait until the completion of court proceedings against Khodorkovsky and several other leading shareholders. Russian prosecutors froze Khodorkovsky 40% stake in the company to prevent any sale.
Sources close to Sibneft said its billionaire chief and Chelsea football club owner Roman Abramovich, will now consider shopping the company to big foreign oil companies.
