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Bashneft and Rosneft may be privatized any time starting September — minister

August 25, 20:34 UTC+3 MOSCOW
The time depends on the assessment of the market situation and the attitude of investors
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MOSCOW, August 25. /TASS/. Privatization of Bashneft and Rosneft may take place at any time starting from September, Economic Development Minister Alexei Ulyukayev said.

"It is not illusive but real possibility. It is just a question of choosing the right time. It can take place, relatively speaking, at any time, starting from September this year and ending in 2017," he said.

The minister added that it is also a question of assessment of the market situation and attitude of investors.

According to him, privatization of Bashneft was postponed because of such factors.

Earlier Ulyukayev said that it was planned to sell the state stake in Bashneft (50.08%) in September-October of 2016.

Previously, First Deputy Prime Minister Igor Shuvalov said that the price of the stake of Bashneft (50.08%) was preliminary estimated at 297-315 bln rubles ($4.6-4.9 bln). Nine companies showed interest in the deal. There are no foreign companies or state companies among them.

Shuvalov said that the sale of Bashneft will be carried out after the sale of 19.5% of Rosneft.

In July, it became known that Italian bank Banca Intesa, an advisor on Rosneft’s government stake sale, had sent its first proposals to the Russian government.

Head of the Federal Property Management Agency Dmitry Pristanskov also said that the concrete report of Intesa is expected "not earlier than in autumn."

So far only China National Petroleum Corporation (CNPC) said it was interested to buy the stake in Rosneft.

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