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25 June, Monday

Ufa   °

Rosneft has already transferred all funds for Bashneft’s acquisition - Vladimir Putin


UFA, 13 October 2016. /Bashinform News Agency, Galiya Nabieva/.

Rosneft has already transferred all funds for the acquisition of the Bashneft Company. This was announced at a meeting with members of the Government by the Russian President Vladimir Putin.

The head of the state said that he had instructed the appropriate authorities to check the availability of resources at the Rosneft’s accounts.

The issue of Bashneft privatization was actively discussed at the VTB Forum "Russia Calling" with the participation of the President of Russia. Vladimir Putin announced the position of the financial and economic block of the Government of the Russian Federation on the decision taken.

Rosneft offered the best price for the asset — 330 billion rubles. "This is slightly higher than the estimates, which were made by independent international experts. That is, it offered a price higher than the market one, " Vladimir Putin said.

“Why representatives of the state in the company did not consider the decision flawed? Following the Bashneft acquisition and the subsequent sale of a large stake — 19.5 percent in Rosneft the so-called synergistic effect comes. Thus, the price of 19.5% in Rosneft significantly grows and Rosneft can get back the money — the premium that it paid to the government for the purchase of Bashneft — and also sell the package to its advantage," Putin said.

"We do care about the position of Bashkortostan — our partner, I mean, a partner of the Federal Government, which owns a significant stake. Bashkortostan directly approached us with a request to keep their impact on the management of this stake. It is also possible in this way. Therefore, the combination of these factors, prompted, apparently, the Government to make this decision ", — concluded the President of Russia.

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