Rosneft on Tuesday sent to the minority shareholders of “Bashneft” in the mandatory offer to acquire the remaining 55,466 million shares of our common stock at a price of 3 706,41 rubles per share. The minority remains and 37.52% of shares of “Bashneft”, the cost of this package is estimated at 205,58 billion, which corresponds to the parameters of the contract of purchase and sale of state-owned stake of “Bashneft”, reports “Interfax”.
Against this background, the cost of ordinary shares of “Bashneft” on the Moscow stock exchange after the morning decline has resumed on the second day of growth. As of 14:00 Moscow time the trading price of securities of “Bashneft” has made 3528 rubles per share. To 14:00 those securities were quoted at 3510 roubles. The growth, called the offer “Rosneft”, therefore, was against the Monday’s closing level of more than 1.5%.
Rosneft now owns of 50.08% of “Bashneft” (of 60.16% of the ordinary shares) purchased from state within the framework of privatization. Another major shareholder of “Bashneft” is Bashkortostan. The Republic’s authorities do not intend to sell its share. In a press-service of the head of Bashkiria to “Interfax” on Tuesday stated that plans on retaining the ownership of the region’s package of “Bashneft” has not changed.
Earlier, the press Secretary of “Rosneft” Mikhail Leontyev said that the eventsrelated to the detention of the Minister of economic development of Russia Alexei Ulyukayev, will not affect plans on putting the offer to minority shareholders. According to the Investigative Committee, published on the night of 15 November, Alexei Ulyukayev for a bribe in the amount of two million dollars gave a positive assessment of “Rosneft”, after which she was able to purchase a package of “Bashneft”.
At the end of October “Rosneft” has sent for approval from the Central Bank a draft mandatory offer to repurchase from minority shareholders of ordinary shares of “Bashneft”. We are talking about 55,466 million shares of the company. Under the current law on joint-stock companies “Rosneft” was to expose the offer to minority shareholders of Bashneft within 35 days after the purchase of 50.08% of the company, if the Central Bank within 15 days will not release the order of the discrepancy of the offer requirements of the law.
In addition, “Rosneft” has addressed in Federal Antimonopoly service for permission to buy 100% of shares of “Bashneft” because it allows them to get any smaller share.