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Russia's antimonopoly service approves Rosneft petition to acquire Bashneft shares

November 29, 2016, 16:35 UTC+3 MOSCOW
It was reported earlier that Rosneft has signed agreement on purchasing Bashneft shares and has fully complied with its obligations under the contract
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MOSCOW, November 29. /TASS/. The Russian Federal Antimonopoly Service (FAS) approved petition of Rosneft to acquire a stake in Bashneft with specific requirements, according to the Service.

"In the next two years the company should sell gas stations in the regions where the combined share of Rosneft and Bashneft in the motor fuel retail markets will exceed 50%," FAS said.

It was reported earlier that Rosneft has signed agreement on purchasing Bashneft shares (50.08%) in mid-October, and has fully complied with its obligations under the contract, transferring 329.7 bln rubles ($5.2 bln) to the Federal Treasury.

Prime Minister Dmitry Medvedev noted that the decree for selling Bashneft shares applies to the federal budget, noting that VTB Capital will act as an agent in the deal.

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