“Rosneft” with the purchase of its shares would be required to sell them in early 2017

“Rosneft” with the purchase of its shares would be required to sell them in early 2017

Moscow. 28 Oct. The Directive on the sale of 19.5% stake in Rosneft from the state is expected early next week.

“Will be released on Monday and Tuesday the Directive: “Rosneftegaz” will be authorized to sell only 19.5%. Everything is built so that directly Rosneftegaz sell real investor. Just in case we don’t manage to get the money for all the procedures until December 31, we will deliver shares of “Rosneft” and “Rosneft” to give us the money,” – said a source in the financial-economic bloc of the government.

According to him, Rosneft will still receive the shares only for transit. “She should be in the first quarter to transfer these shares to the investors,” he said.

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“Everything is lined up, the whole graph so that until December 31, the money in the budget to in order to run all the macro parameters. In case the procedure fails, we have the money “Rosneft” will receive the balance of the shares and will give them later in the first quarter of the investors. Time definitely I quarter,” – said the source.

He stressed that the whole operation is performed under real investors and not merely to transfer the shares of “Rosneft”.

“There is Intesa, we work with them, we understand who are the real investors. This is not some far-fetched operation. Basically, if I didn’t know who these investors are, I tell you frankly, we wouldn’t give up Bashneft, he said, adding that we are talking about several different investors.

Rosneftegaz needs to sell shares to real investors, but we have a complicated operation because we have through the procedure is temporary, as the recovery of dividends (to the money in the budget),” he explained. “So, if we have time to do all this, in order for the budget to close this year, with these 700+, I hope billion (rubles), then we will spend. If we do not have time, you have just money to withdraw from Rosneft. They have that kind of money,” the source added.

In addition, he did not rule out that in 2017, will be selling another 10% of “Rosneft”. “Of course, possible. If this is all successful, 10% of “Rosneft” soon all of us will even have to sell,” – said the source.

An order to privatize 19.5% of Rosneft shares until the end of the year gave the Prime Minister Dmitry Medvedev on October 10.

Vice-President of the company Mikhail Leontyev said that Rosneft is seriously considering the purchase of its shares from Rosneftegaz (the state-owned holding that owns the control of “Rosneft”), as it sees great potential of growth of capitalization.