Rosneft files application for buyout of 100% in Bashneft — regulator
Business & Economy
October 28, 2016, 17:20
Rosneft closed the deal on acquisition of 50.08% shares in Bashneft for $5.2 bln on October 12
MOSCOW, October 28. /TASS/. Rosneft approached the Federal Antimonopoly Service (FAS) of Russia for a permit to buy 100% shares in oil producer Bashneft, an official representative of the company told TASS on Friday.
"The company approached FAS for a permit to buy out 100% shares in Bashneft because it tacitly entitles to buy any smaller stake also," the sources said.
Rosneft closed the deal on acquisition of 50.08% shares in Bashneft for 329.7 bln rubles ($5.2 bln) on October 12. According to current laws, Rosneft shall issue an offer to minority shareholders within 35 days, by November 17.