02 October 2009, Friday, 11:19

AFK “System” intends to sell control packets of shares of Bashkir fuel enterprises to JSC “BASHNEFT”

author: Olga Gorunova

JSC “AFK System” intends to consider the question concerning sale of the control packets of shares of JSC “UFANEFTEHIM”, JSC “NOVOIL”, JSC “UFAORGSINTEZ”, JSC “Ufimsky refinery” and JSC “BASHKIRNEFTEPRODUCT” to JSC “BASHNEFT”.

The decision about that has been reached at the meeting of the board of directors of JSC “AFK System” at the end of September and it will be put to approval to the special general meeting of the shareholders, which will be held in the form of distant voting with the final date of the bulleting reception on November 16, 2009, the news-service of the corporation reports.

“We intend to build up a vertically integrated oil company on the base of the Bashkir fuel-energy complex’s enterprises, where JSC “BASHNEFT” is called to play the role of a managing structure” – President of JSC “AFK System” Vladimir Evtushenkov said – “The decision concerning sale of the control packets of shares of five enterprises of the Bashkir fuel-energy complex to JSC “BASHNEFT” is one of the first steps on optimization of the business-processes within the frames of the Bashkir fuel-energy complex”.