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