AFK “System” has the claim of “Rosneft” and “Bashneft” 106,6 billion

AFK “System” has the claim of “Rosneft” and “Bashneft” 106,6 billion

MOSCOW, may 5. /TASS/. AFK “System” has expressed its disagreement with the claim of “Rosneft” and “Bashneft” 106,6 billion rubles, the press service of the company.

“Sistema disagrees with the lawsuit and considers the claims of the plaintiffs illegal and unjustified. All corporate action specified in the complaint, was carried out in accordance with the law and best corporate governance practices in business development and growth in the value of JSC ANK “Bashneft”, – said in a statement.

Claim 5 may not accepted for production, but in the event of consideration by the court the company will provide “detailed feedback for all the theses and arguments of the plaintiffs,” emphasizes AFK “System”.

Earlier, the press Secretary of “Rosneft” Mikhail Leontyev told TASS that the action relates to actions of the former owner of the Bashkir company that brought, according to Rosneft, the asset is impaired.

From 2005 to 2014 “Bashneft” was part of the AFK “System” Vladimir Yevtushenkov, after which he was returned to state ownership. In 2016 50,1% of shares of “Bashneft” bought “Rosneft”, paying for a package of 329.7 billion. Later, after the offer to minority shareholders, “Rosneft” began to control 57.7% of the share capital of “Bashneft”.

Sistema, in turn, denies these claims, noting that “since the acquisition of Bashkir oil and energy Corporation has transformed the disparate structure of enterprises with opaque dividend and operating policies in a full-fledged vertically integrated oil company combining the key business areas with a transparent structure of ownership, management and profits”.

According to Sistema, 2009-2014 revenue of Bashneft increased by 3% from 215 billion to 637 billion; oil production increased 46% from 12.23 million tons to 17.81 million tons; capitalization increased more than 6 times – from $2 billion to $12.8 billion in addition, the oil company received the listing of the first (highest) level on the Moscow stock exchange.

MTS company, from 50.03% owned by AFK “System”, also made a statement that these events do not interfere with the operating activities of MTS.