Decision destructive for Sistema JSFC may be made in Ufa
UFA, 6 June 2017. /Bashinform News Agency, Olga Murtazina/.
On June 6, the Arbitration Court of Bashkortostan started to consider a claim of PJSOC Rosneft to Sistema JSFC for the amount of 170.6 billion rubles. Initially, the sum of the claim was 106.6 billion, but on May 23 the plaintiff increased it "due to the depreciation of the ruble". On May 24, the Ministry of the Property of Bashkiria, on behalf of the Government of the republic — a major shareholder of Bashneft, applied to the court with a request to include it in the composition of the co-plaintiffs on the first suit. "The grounds of the claim are unethical practices of the defendants on a number of reorganization activities within the PJSOC Bashneft", the regional government explained.
The court upheld the petition of the republican ministry during a session.
In 2005, Sistema JSFC bought blocking stakes in six Bashkir fuel and energy enterprises — Bashneft, Ufaorgsintez, Novoil, Ufaneftekhim, the Ufa Refinery and Bashkirnefteprodukt for $ 600 mln. In 2009, Sistema acquired controlling block of shares in Bashkir enterprises for $ 2.5 billion, and then consolidated them in Bashneft.
In December 2014, the Sistema block of shares was transferred to the state property — the Federal Property Management Agency. In October 2016, Rosneft purchased 50.075% of Bashneft for 329.7 billion rubles. The blocking stake (25%) was transferred to Bashkortostan.