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Russia’s Sistema-Invest raises stake in Bashneft to 12.6%

November 10, 2014, 13:16 UTC+3 MOSCOW
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MOSCOW, November 10. /TASS/. Russia’s Sistema-Invest raised its stake in oil company Bashneft to 12.57% from 9.91% on October 30, Bashneft said in a statement Monday.

“The stake increase took place under a repo agreement,” a spokesman for Sistema-Invest’s parent holding Sistema told PRIME.

On October 30, the Moscow Arbitration Court ruled that a 71% stake in Bashneft should be nationalized and withdrawn from multi-industry holding Sistema.

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