Rosneft is run by Igor Sechin, a prominent associate of Russian President Vladimir Putin has closed the transaction on purchase of state block of shares of “Bashneft”, the privatization of “Rosneft”.

In this regard, the Ministry of economic development is going to offer a reassessment of 19.5% of Rosneft shares after the acquisition of “Bashneft” on the basis of market quotations, reports “Interfax”.

“We will even consult with the investment consultant, most likely, will offer the assessment on the basis of quotations”, – told reporters on Thursday the Minister of economic development Alexei Ulyukayev. The consultant of the transaction was previously appointed Italian Bank Intesa, working closely with Rosneft.

On the eve Ulyukayev said that to order a new appraisal from an appraiser of the value of Rosneft after its purchase of “Bashneft” may not be required, and the cost will be determined based on market quotations.

“As for the question about the new rating “Rosneft” (after the purchase of “Bashneft”), you can make a new assessment, and you can proceed from the dynamics of the quotations, actual it is such a simplistic assessment,” said the Minister, answering the question of whether to do a new assessment of “Rosneft”.

The Minister also said Wednesday that the interest in purchase “Rosneft” have foreign investors, but the formal proposals it has not yet seen. Previously, we note, among the potential buyers were investors from China, and then, when the Chinese showed interest in participating in the management of the company spoke about certain investors from India and Japan.

However, the Minister of economic development expressed the opinion that “the privatization of Rosneft may take place this year”.

Answering the question of why he expressed confidence that by the end of the year a package of “Rosneft” can be sold, and whether this means the possibility of redemption itself “Rosneft” its shares from Rosneftegaz, the speaker Wednesday said, “I don’t know anything about it.” According to him, the question about buyback (samovitoe shares) have not been discussed with the Ministry of economic development.

“Rosneft” after purchase of “Bashneft” will increase production of liquid hydrocarbons by 10%, the volume of oil refining by 20%, says the company.

Rosneft, the world’s largest public oil company in terms of production, according to analysts, expects that the acquisition of a stake in Bashneft will increase the value of its own shares, the package which the government also plans to offer for sale.

However, the preparation for privatization of “Bashneft” last summer, sharply raised the question of whether state-owned companies to be present in such transactions, and generally on the status of state-owned companies in the Russian Energy sector. A number of senior officials of the Russian government spoke out against, saying that the sale of a controlling stake in one state-owned other state-owned companies privatization is difficult to call.

The transaction is completed, the user has changed

We will remind, yesterday the President of Russia Vladimir Putin during a meeting with the government announcedthat Rosneft has already transferred all funds for the purchase of a controlling stake of “Bashneft”.
Earlier “Rosneft” officially declared purchase by the company 50,0755% of shares of “Bashneft”. Chief Executive officer of the state company Igor Sechin signed the agreement of purchase and sale 88 951 379 shares of “Bashneft” for 329,69 billion.

In addition, on Wednesday morning it became known that the Board of Directors of Bashneft will consider the issue of early resignation of the President of the oil company Alexander Corsica. According to journalists, also in the near future will consider the issue on early termination of powers of Board members and election of the new composition.

On October 13 President and Chairman of the Board Bashneft five years, was appointed Vice-President of “Rosneft” Andrei Shishkin. As reported a press-service “Rosneft”, such decision was made by the Board of Directors of “Bashneft”, which also elected new members of the Board of “Bashneft”. It included only the representatives of “Rosneft”.

Under the previous major acquisitions “Rosneft” was found in its structure a place for the employees, but when you join Bashneft’s key leaders can be claimed, wrote the newspaper “Kommersant” , citing the opinion of experts.

The government has received control over “Bashneft” after in 2014 were arrested Vladimir Yevtushenkov, owner of AFK Sistema, which owned oil company. When the shares became the property of the state, Yevtushenkov was released.

The Ministry of economic development to offer “simplified” the revaluation for sale of 19.5% of Rosneft shares 13.10.2016

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