Russia’s stake in Bashneft on sale

the government is considering to sell over 25%, 50%, or even 75% of company’s shares
Russia’s stake in Bashneft on sale
19 February 14:35 2016 Print This Article

Russian’s government plans to sell the controlling stake in state oil producer Bashneft. The Ministry of Energy supports the selling, First Deputy Minister Alexey Tksler said on Friday, reports Tass.

The Federal State Property Agency holds 50.08% in the charter capital of the oil producer, while the region of Bashkortostan owns 25% plus one share. The region is not considering possibility of selling its share and does not hold any negotiations on this issue, while the government is considering three options of Bashneft’s privatization: to sell over 25%, 50%, or even 75% of company’s shares depending on the offer, reports Vedomosti.

It also reports that the market capitalization of Bashneft is equal to about 414 billion rubles.

Officially, only Lukoil has announced its interest in the stake. According to its CEO Vaghit Alekperov, the company is interested in a controlling stake in Bashneft. Rosneft and Novatek are not interested in purchase, while Gazprom Neft, Zoltav (owned by Arkady Abramovich), Surgutneftegaz and Rotenberg family do not comment on it.

Back in February 14, Russian Minister of Economic Development Alexey Ulyukayev said that Russia’s government plans to privatize a number of energy sector companies in 2016, including Rosneft and Bashneft oil majors.

Bashneft is included in the list of strategic companies, sale of which is required to be approved by Russian President.

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Cecilia Valentini
Cecilia Valentini

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