25 June 2013, Tuesday, 13:06

Bashneft sold 2.45% of shares with buy back right

author: Elvira Latypova

Bashneft sold 2.45% of shares with buy back right

JSOC Bashneft completed a transaction on selling 832,082 ordinary and 4,730,528 preferred shares accounting for 2.45% of the company’s authorized share capital to United Platform S.A. (Luxembourg).

According to the press-service of the oil company, the transaction value based on the market value of Bashneft’s shares totalled US$ 257 million.

Under the approved terms of the transaction, the buyer shall grant Bashneft the right to buy back the mentioned block of shares within six months.