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29 October, Thursday

Ufa   °

Radiy Khabirov: "Bashkiria does not plan to resell controlling stake in BSC"

Politics

The republic does not plan to resell the shares of the Bashkir Soda Company (BSC) if the stake is increased to a controlling one. One of the largest enterprises in the republic will remain under state control. The Head of the Republic Radiy Khabirov stated it in an interview with RBC.

As we reported earlier, the republic is no longer considering the option of buying out  the block of shares in BSC — the main owners did not responded to the official offer. The main option for regaining control over the enterprise is now to invalidate the 2007 and 2013 transactions to dilute the controlling stake, as a result of which the republic reduced its stake from 62% to 38%.

According to Radiy Khabirov, the story began in 2007-2008, and "those shareholders who are now the majority shareholders of Bashkir Soda Company began purposeful siphoning off funds. It led to losing the controlling stake by the republic. The Ministry of Land and Property Relations of Bashkiria has already sent a statement to the prosecutor's office that we consider this transaction illegal and unfair, and the republic has suffered damage accordingly. According to preliminary calculations, these are tens of billions of rubles."

On behalf of Vladimir Putin, the Prosecutor General's Office is investigating the materials. In his speech at a government meeting, the head of state noted that the controlling stake in the Bashkir Soda Company belonged to private owners, but the  money earned by the company was hardly ever invested in its development and did not stay in the region.

/translated by Tatiana Aksyutina
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