Sistema pres says peaceful case settlement with Rosneft possible

VLADIVOSTOK, Sep 7 (PRIME) -- President of Russian multi-industry holding Sistema Mikhail Shamolin has confirmed a possibility of peaceful settlement of a case against the company by oil major Rosneft, he told reporters on the sidelines of the Eastern Economic Forum on Thursday.

“It is possible, of course. I will not comment (on the terms), we are not going to discuss the terms of an amicable agreement via the press,” Shamolin said.

Russian President Vladimir Putin said on Tuesday he expects the two companies will be able to reach an amicable agreement. He discussed the issue with executives of both companies, he added.

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 late August, the Arbitration Court of the republic of Bashkortostan ordered Sistema to pay 136.3 billion rubles to Rosneft and Bashneft, partially satisfying the suit. Sistema plans to contest the court decision.

CEO of Rosneft Igor Sechin said that Rosneft will announce its position on the issue later. “We will answer your question a bit later, we will tell you on time. I will tell the position that I will be fulfilling.”

(57.3387 rubles – U.S. $1)

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