Russian PM signs order on Bashneft sale to Rosneft for 330 bln rbl

GORKI, Moscow Region, Oct 10 (PRIME) -- Russian Prime Minister Dmitry Medvedev has signed an order to sell the state’s 50.075% stake in oil company Bashneft to oil major Rosneft for 329.7 billion rubles to be paid until Friday and used in the 2016 budget, he told his deputies at a meeting on Monday.

“The Federal State Property Management Agency must take all necessary decisions to credit the revenue from the deal to the Russian federal budget. As you know, this revenue has been included in this or another way during formation of the budget revenue basis for the country this year,” Medvedev said.

On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its 50.08% stake in Bashneft in 2016, and Rosneft, albeit state-run, was granted access to the deal. Economic Development Minister Alexei Ulyukayev said that Rosneft was the only company, which offered a price higher than the price of an independent appraiser, which estimated the stake at 297–315 billion rubles.

(62.3031 rubles – U.S. $1)

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