Medvedev signed a decree on selling of state blocks of shares in Bashneft, the buyer assigned to Rosneft
Prime Minister Dmitry Medvedev signed a government decree on sale of shares of “Bashneft” for 329 billion 690 million rubles, “Rosneft”. The closing date for the transaction to October 14, informs IA “Finmarket”.
“I signed today a decree on the sale 50,0755% of shares of “Bashneft”. This sale is in the address of JSC “NK “Rosneft” at the price of 329 billion 690 million rubles on the basis of those documents on the basis of the report of JSC “VTB Capital”, which is the agent in this transaction,” – said the head of the Cabinet, opening Monday meeting with Deputy Prime Ministers.
Medvedev stressed that the payment for the shares must be held on time under the contract of sale. In this case, the Agency must take all necessary decisions for the transfer of income from this transaction in the Federal budget.
“You know that the income one way or another we have taken into account when determining the revenue base of the country’s budget for the current year. We recently discussed the measures of budget consolidation, in raising more revenue. Including in the framework of this work and made the decision to sell a controlling stake in the joint-stock company “Bashneft”, – said the Prime Minister.
Rosneft last week announced that he has accumulated the necessary funds for the purchase of “Bashneft”. The Board of Directors of the state company previously discussed a deal, proposing to send for the purchase of state block of shares of Bashkir oil companies are not more than 330 billion rubles.
Earlier on Monday, Minister of economic development Alexei Ulyukayev said that the purchase of state block of shares of “Bashneft” was filed two binding bids, one of which came from “Rosneft”, said the head of the MAYOR Alexei Ulyukayev. Another company, the Minister refused to name, adding that it is not “LUKOIL”.
“Rosneft”, according to the Minister, is regarded as a priority buyer due to the fact that was the only company that has given the consultant’s proposal, “VTB Capital”, a legally binding offer with a price higher than the price of an independent appraiser, who assessed the package from $ 297 billion to 315 billion roubles.
We will remind, on August 16, Prime Minister Dmitry Medvedev took the decision to postpone the privatization at a later date, believed to be due to the reluctance of the government to prevent state-owned companies buying one another under the guise of privatization.
In August, Medvedev’s press Secretary Natalya Timakova said that the privatization of “Bashneft” is being postponed to a later date, and government sources noted that sales this year may not happen. Igor Shuvalov then stated that now comes to the fore selling of 19.5% of “Rosneft” and even after her power will return to the privatization of “Bashneft”.
This very “Rosneft” wanted to gain control over “Bashneft”.
Being the world’s largest public oil company in terms of production, it is, according to analysts, could count on the fact that the purchase of the valuable asset will increase the value of its own shares, the package which the government also plans to offer for sale this year.
On 30 September, the Russian government decided to resume the sale of state-owned shares “Bashneft” and confirmed the intention for the sale of 19.5% of “Rosneft”.
Thus, as stated by the first Vice-Premier of Russia Igor Shuvalov, “Rosneft” will not be limited to participate in the bidding in the sale of “Bashneft”.
3 October “Rosneft” has called his proposal for the privatization of “Bashneft” the best for Russia. Then Russian Finance Minister Anton Siluanov told reporters that the Ministry of Finance of the Russian Federation amendments to the Federal 2016 budget takes into account the privatization of packages of “Bashneft” and “Rosneft” to the end of the year.