Holding Rosneftegaz may partially Fund the buyout of the oil company “Rosneft” 19,5 percent of its shares in the framework of privatization. About it to Agency Reuters said three sources knowledgeable about the negotiations. “Rosneft” will return shareholder money, paying for the package, and he will forward them to the budget in the form of dividends, told the sources.
The Russian government is preparing the privatization of 19.5% stake from the package of Rosneftegaz, which owns 69.5% of Rosneft shares, and I expect to get for this package of over 700 billion rubles in the budget deficit in the form of dividends. “Rosneft” can buy from “Rosneftegaz” this package in order to resell it to investors in early 2017, Reuters writes.
An industry source and two sources in banking circles told Reuters that one of the variants of financing for the transaction may be the participation of “Rosneftegaz”. At the same time, the press Secretary of “Rosneft” Mikhail Leontiev called this concept the “feverish delirium”. “Rosneftegaz is the seller, not the buyer,” he said.
“Rosneft” funds are available for redemption of own shares – the company has a savings and closed several transactions for the sale of assets to foreigners, but trade will have to convert the currency into rubles, as, according to analysts, the main stock of rouble funds “Rosneft” has spent for purchase of “Bashneft”.
Rosneftegaz may Finance only a portion of the purchase of shares of “Rosneft”, as it does not have an amount of 700 billion rubles, told Reuters a source in the banking sector and a source close to the government. According to the analysts of Raiffeisenbank, according to the statements of the company at the end of 2015 its accounts was about 472 billion rubles accumulated through dividends of state-owned companies, including Gazprom and Inter. According to analysts, about 50-75% of this amount in rubles, and for the payment of dividends to the budget “Rosneftegaz” enough to 357-439 in rubles billion rubles.
The first Deputy Chairman of the CBR Ksenia Yudaeva said yesterday that the Central Bank is not waiting for super strong implications for the currency market as a result of privatization of 19.5% of Rosneft shares, but declined to comment on financing details.
In mid-October, President Vladimir Putin, commenting on the purchase by Rosneft of a controlling stake in Bashneft, announced that the company has funds to temporarily buy back own shares. Later, the head of state stressed that Rosneft’s purchase of its shares is only possible as an intermediate step before the “real privatization”.
In October “Rosneft” has bought from the Federal property management Agency controlling stake (of 50.08%) of Bashneft. The amount of the transaction amounted to 329,69 billion.