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USD 59.36

EUR 69.71

20 August, Sunday

Ufa   °

FAS allowed Bashneft to raise its share in the United Petrochemical Company to 100 percent

Business

The Federal Antimonopoly Service satisfied the application of JSOC Bashneft about acquisition of 25,00025 % of voting shares of OJSC United Petrochemical Company.

According to FAS, the Bashneft’s share in OJSC UPC «in aggregate with already available voting shares will make 100 % of voting shares».

In September, 2011 Bashneft and Petrochemical Holding GmbH made a decision to form OJSC United Petrochemical Company. The authorized capital of the joint venture made 10 million euros. The Bashneft stakeholder share made 74,99 %, the Petrochemical Holding GmbH share — 25,01 %.

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