Report: Rosneft ready to help with loans for Sistema’s payments

YUZHNO-SAKHALINSK, Sep 11 (PRIME) -- Russian oil major Rosneft is ready to participate in organizing loans for multi-industry holding Sistema to help it to abide by the court’s decision to pay out 136.3 million rubles, CEO Igor Sechin said in an interview with television channel Rossiya on September 10.

“We, the participants of the lawsuit – Rosneft, Bashneft and Sistema – need to meet the ruling and prevent a negative economic impact or a deficit of services, provided by the companies. We have by no means projected any bankruptcies or getting the shareholdings. We only want Sistema to pay a legally accepted sum,” he said.

“Sistema has enough money to pay out the sum with no trouble. I want to stress that… we are ready to take part in organizing credit lines to repay the debt. At least two (banks) have sent such proposals to Sistema.”

Rosneft, the current owner of a controlling stake in oil company Bashneft, filed the suit against Sistema and its unit Sistema-Invest in May, seeking to recover a 170.6 billion ruble loss stemming from an alleged asset stripping at Bashneft by Sistema.

In June, the court issued an order to seize what it assessed as 185 billion rubles worth of assets of Sistema, including a 31.76% stake in mobile operator MTS, 100% in healthcare company Medsi, and 90.5% in Bashkir Power Grid Company, under the case. On August 23, the court ruled Sistema to pay 136.3 billion rubles to Rosneft and Bashneft, partially satisfying the suit.

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