Bashneft Joint Stock Petroleum Company//INFOS

oha, Russia's Sistema says paid for Bashneft 80% above market price MOSCOW, Oct 9 (PRIME) -- The U.S. $2 billion purchase price of oil and gas assets of the Bashkortostan Republic in the 90s, which now comprise Russian oil company Bashneft, was on average 80% higher than their market value, multi-industry holding AFK Sistema said Thursday on its official Web site. Moreover, Sistema did not participate in the privatization of the assets and was a bona fide purchaser, buying them from a third party, the company said. It bought what later became the Bashneft company in three stages: buying 19.9% from minorities for $502.9 million in 2005, acquiring additional minority stakes later in 2005 for $96.8 million and buying a controlling stake for $2 billion in 2009. On September 25, a Moscow Arbitration Court arrested Bashneft’s shares owned by Sistema after the General Prosecutor’s Office filed a claim on violations during privatization of the Bashkortostan Republic’s oil and gas as [mehr]

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Bashneft Joint Stock Petroleum Company//INFOS