PRESS: Rosneft wants to sell Chechen assets for 13 bln rbl

MOSCOW, Feb 27 (PRIME) -- Russian oil major Rosneft wants to sell 51% in Grozneftegaz and other assets in the republic of Chechnya to the republic for 12.5 billion rubles, Kommersant business daily reported on Monday citing sources.

Rosneft has submitted valuation of the assets, made by PwC, to the Economic Development Ministry, and the proposal was discussed at a meeting of the ministry in early February, the source told the daily.

Representatives of the republic asked the company, the Economic Development, Energy and Finance Ministries and the Federal State Property Management Agency to check the valuation. The government will issue a ruling to carry out that deal after the check and approval by the republic’s government, sources told Kommersant.

A source said that the deal has not been approved yet and sources of financing were not defined, but it will unlikely be a problem as the process as at its final stage. Another source said that it is too early to speak about the terms of the deal.

The Economic Development Ministry declined to comment.

(57.4762 rubles – U.S. $1)

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