UPDATE: Russian govt allows Rosneft to buy 50% in Bashneft for 330 bln rbl
(Confirms unofficial information in lede, adds second paragraph)
MOSCOW, Oct 6 (PRIME) -- The Russian government has allowed oil major Rosneft to buy the government’s 50.08% stake in oil company Bashneft for no more than 330 billion rubles, the government said on its Web site Thursday citing its directives to members of Rosneft’s board of directors.
The relevant agreement should be signed by October 15, the government said.
On September 30, First Deputy Prime Minister Igor Shuvalov said that the government has decided to resume preparations for the sale of its 50.08% stake in Bashneft, and Rosneft was granted access to the deal. On Monday, Kommersant business daily reported that the government is discussing allowing Rosneft to buy the stake for about 325 billion rubles without an auction.
On Tuesday, sources familiar with the matter said Rosneft’s board of directors approved participation in privatization of Bashneft. Rosneft only said in a separate statement that the board approved a large deal, and a representative of the company said that the deal’s details will be announced later.
(62.4583 rubles – U.S. $1)
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