Antitrust to order Rosneft to sell some Bashneft fuel stations Q2

MOSCOW, Mar 1 (PRIME) -- The Federal Antimonopoly Service plans to issue an order to oil major Rosneft to sell some fuel stations of recently acquired affiliate Bashneft in April–June, Director Anatoly Golomolzin told reporters on Wednesday.

“Materials for analysis were prepared at the beginning of February, this analysis in being done by territorial offices. This (order) will appear approximately in the second quarter. In principle, we do not expect big changes. Preliminary analysis shows that the zones of the two companies did not overlap a lot,” Golomolzin said.

Rosneft closed a deal to purchase 50.08% in Bashneft, or 60.16% of common shares, from the government for 329.7 billion rubles in October 2016.

The company sent a buyout offer on November 15 and raised its voting stake to 69.3% on Wednesday, after completing the buyout.

(57.9627 rubles – U.S. $1)

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