Putin sanctioned the privatisation of 50% plus one share of “Bashneft”

Putin sanctioned the privatisation of 50% plus one share of “Bashneft”

Moscow. May 17. Russian President Vladimir Putin signed a decree on the exclusion of 50% plus one share of JSC “Bashneft” from the list of strategic enterprises, according to the official website of legal information.

The document was signed on 12 may of the current year. Thus, the state-owned stake in Bashneft could be privatized.

Currently it is officially known of the two candidates for the state-owned stake of “Bashneft” LUKOIL and Independent oil company (“NOC”). About two applicants wrote to the media. It – business Hotiny, as well as an unknown company in the market “Tatneftegaz”, which has offered to lend the state-owned stake for temporary use.

In February it was reported that at present Russia is the owner of 50.08% of shares of “Bashneft”, Bashkortostan – 25% plus one share. In the list of strategic enterprises and strategic joint companies approved by decree of the President on the fourth of August 2004 included 50% plus one share of the company. The forecast plan of privatization of mediasanta for 2014-2016, approved by government in 2013, did not provide for a reduction in the share of Russia in the authorized capital of “Bashneft”.

Itself “Bashneft” offers to sell on the Moscow stock exchange ten percent of the ordinary shares of the company and 50% to a strategic investor. According to the head of “Bashneft” Alexander Corsica, “LUKOIL”, in fact, is the only strategic investor in Bashneft.

Informed about the probable scheme of sale of shares of the company, said the head of “Bashneft” Alexander Korsik. In particular, they considered a scheme under which company shares may be sold to a strategic investor, and a stock exchange. Owned by the state of 60.16% of the voting shares (of 50.08% of the share capital) of Bashneft, the Republic of Bashkortostan – 25,79% of the voting shares (25% of the share capital). Earlier, a source familiar with the situation said that since the state has 60% of the voting shares, the top management of the company proposes to sell ten percent of the voting shares in the market, and 50% – sell strategy.

That the authorities are considering both options of privatization of the company, in mid-April and announced by the Minister of economic development Alexei Ulyukayev. But he stressed that the Ministry sees no point in selling five to ten percent of shares of “Bashneft” on the exchange, and considers it appropriate to offer a blocking stake. The final version of the privatization of the company will depend on the proposals of banks-advisers, which they must provide by the end of may.