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Source says Putin banned state companies from taking part in Bashneft privatization

July 21, 18:46 UTC+3
According to the source, Deputy Prime Minister Arkady Dvorkovich repeatedly drew the attention of the Federal Property Agency to that order
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© Sergey Savostyanov/TASS

MOSCOW, July 21. /TASS/. There is an order by the Russian President that state companies should be banned from participating in privatization, which concerns the purchase of bashneft by Rosneft, a source familiar with the situation told TASS.

In particular, the ban applies to a possible purchase of Bashneft by state owned oil company Rosneft.

According to the source, Deputy Prime Minister Arkady Dvorkovich repeatedly drew the attention of the Federal Property Agency to that order.

Dvorkovich’s spokesperson Alia Samigullina said that "it concerns the direct instruction from the president."

According to TASS, VTB Capital, which acts as an investment advisor in the privatization of the 50.08% stake of Bashneft, sent letters to a number of investment funds and companies.

The list of recipients also includes the Russian Direct Investment Fund (RDIF) and the Sistema Holding, foreign funds - Hopu Capital, the Silk Road fund, ADIA, Mubadala, QIA, Temasek, Fosun and CIC.

The government’s agent receives applications from potential buyers of Bashneft until July 25.

In January, Russian President Vladimir Putin announced the government’s decision to sell stakes in Rosneft, Bashneft, VTB, Alrosa and Sovcomflot.

It was reported that the Independent oil and gas company and oil major Lukoil were to participate in the privatization of Bashneft. The Federal Property Management Agency owns 50% plus one share of Bashneft, the authorities of the republic of Bashkiria have 25% plus one share. Bashneft operates in more than 20 regions of Russia and abroad.

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