UPDATE: Rosneft, Bashneft file 131.6 bln rbl suit against Sistema

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MOSCOW, Dec 7 (PRIME) -- Russian oil major Rosneft and its unit Bashneft have filed a new suit against multi-industry holding Sistema seeking to recover 131.6 billion rubles that Sistema received in dividends from Bashneft, Rosneft said on its Web site on Thursday.

“Today Bashneft and Rosneft, acting on behalf of Bashneft as its shareholder, filed a suit with the Arbitration Court of the republic of Bashkortostan against Sistema and Sistema-Invest seeking to recover 131.64 billion rubles of damage. The sum of the lawsuit corresponds to the amount of dividends withdrawn by the defendants from Bashneft in 2009 and 2014 in their favor, excluding the taxes paid,” the statement said.

Rosneft said the claim stems from an earlier court decision to find Sistema an unfair shareholder illegally owning shares, bringing damage to Bashneft, and withdrawing its assets.

In August, the Arbitration Court of Bashkortostan partially satisfied a 170.6 billion ruble suit filed by Rosneft, Bashneft and the republic of Bashkortostan, where Bashneft is located, to charge Sistema and its affiliate Sistema-Invest for the losses allegedly caused to Bashneft in 2014 during its reorganization. In 2014, Sistema was the core owner of Bashneft.

Rosneft also said it attracted the Russian Direct Investment Fund (RDIF) as an intermediary for an amicable settlement of the dispute over Bashneft with Sistema. Rosneft's efforts produced no result, as the defendant refused to hold dialogue, the company said.

Sistema’s shares slumped 22.9% on the Moscow Exchange and lost 19% on the London Stock Exchange on reports about the lawsuit.

(58.9281 rubles – U.S. $1)

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