Bashkiria’s stake in "Bashmetall" is sold to the Cyprian company for 81,6 million rbl.

The block of shares of JSC "Bashmetall" belonging to the republic is sold by auction to the Cyprian company «Miteng Investsments Limited». According to the Ministry of Land and Property Relations RB, 32 282 ordinary shares of "Bashmetall" (41 percent of the authorised capital) are sold for 81,6 million rbl.

According to the list of affiliated persons of JSC "Bashmetall" as of June 30, «Miteng Investsments Limited» owned 42,4 percent of shares of the Bashkir company. Thus, as a result of the transaction the winner of the auctions will possess 83,4 percent of Bashmetall’s shares.

The core business of JSC "Bashmetall" is wholesale trade of rolled metal products and pipes, collection, processing and sale of scrap metal and wastes of ferrous and nonferrous metals, repair-construction activity. The company’s authorised capital is 78 736 000 rbl. The year of 2012 the company has finished at a loss of 944 thousand rbl., the first quarter of 2013 – at a loss of 204 thousand rbl. The company’s staff consists of two workers.