The Russian government has decided to postpone the privatization of “Bashneft”

The Russian government has decided to postpone the privatization of “Bashneft”


Moscow. August 16. The head of the government of the Russian Federation Dmitry Medvedev took the decision to postpone the privatization of “Bashneft”, the decision was approved by the President, said the press Secretary of Prime Minister Natalya Timakova.

“The Prime Minister has decided to postpone the privatization of “Bashneft” at a later date, it (the decision) approved by the President”, – said Timakova.

May 17, 2016, it was announced that Russian President Vladimir Putin has signed the decree about an exception of 50% plus one share of JSC “Bashneft” from the list of strategic enterprises.

The document was signed on 12 may this year. Thus, the government’s stake in Bashneft could be privatized.

The cost of 50.08% stake in the authorized capital of “Bashneft”, owned by the Federal property management Agency, was valued by an independent appraiser in the range from 297 billion to 315 billion roubles, which corresponds to the price per ordinary share from 3 thousand 340 roubles to 3 thousand 537 rubles. Point the market value is 306 billion, which corresponds to the middle of the presented range. The Federal property management Agency and Ministry of economic development has stated that they consider fair such an interval valuation of the company.

The second after the Russian Federation, the shareholder of “Bashneft” – Bashkortostan, which owns the 25,79% of the votes (25% of the share capital) and on the package to leave no plans.

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