Rosneft says Bashneft lost 180 bln rbl from actions of Sistema

SOCHI, May 17 (PRIME) -- Russian oil major Rosneft has estimated losses of Bashneft from actions of its previous owner, multi-industry holding Sistema, at 180 billion rubles, but only filed a suit seeking redemption of 106.6 billion rubles on the basis of the current ruble rate against the U.S. dollar, Rosneft CEO Igor Sechin told reporters on Wednesday.

“The sum of 106 billion rubles is the estimate of losses as of the date of the suit. If you calculate it in prices of the days when these actions were taken, it amounts to 180 billion rubles. We will see, it is for the court to decide,” he said.

Rosneft seeks to recover an alleged loss from Sistema and its unit Sistema-Invest, which Rosneft believes were involved in asset stripping in Bashneft in 2009–2014, when they owned a controlling stake. The Arbitration Court of the republic of Bashkortostan registered the company’s suit on May 15 and scheduled hearings of the suit for June 6.

A Sistema spokesperson said on May 15 that the company believed there had been no grounds for claims, as reorganization of Bashneft had been held strictly in line with legislation, and it respected interests of all shareholders and led to growth of the company’s capitalization.

(56.2603 rubles – U.S. $1)

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