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Bashneft privatization deal may be completed in June — minister

May 17, 2016, 14:54 UTC+3 MOSCOW

The deal on Bashneft privatization may be closed in the first half of this year — Economic Development Minister Alexey Ulyukayev

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© Maxim Slutskiy/TASS

MOSCOW, May 17. /TASS/. The deal on Bashneft privatization may be closed in the first half of this year, Economic Development Minister Alexey Ulyukayev said Tuesday.

"It is possible. I think it is one of three assets most ripe (for privatization). We will receive the position of the investment adviser at the end of this month or the beginning of the next while further actions will be very quick," he said, adding that "it’s technically possible to do it in the first half of the year."

Russia’s President Vladimir Putin has permitted privatization of a 50% stake of the government in Bashneft by excluding it from the list of strategic companies. The relevant decree was published earlier on Tuesday on the website of legal information. The document has come into effect starting May 16, 2016.

Earlier it was reported that the Russian government was considering three options for privatization of Bashneft - the sale of a 25% stake, a 50% package and, together with a stake of Russia’s republic of Bashkiria - 75%.

The oil major Lukoil has expressed interest in buying a controlling stake in the company.

Bashneft operates in more than 20 Russian regions and overseas. The Russian Property Management Agency holds 50% plus 1 share in the company, with 25% plus one share belonging to Bashkiria.

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