Bashneft’s controlling stake was arrested with regard to Levon Hayrapetyan’s case

Elvira Latypova

Notice of prohibition to withdraw Bashneft’s shares from the account was delivered to Sistema JSFC from OJSC REESTR. In its official statement Sistema says that it relates restrictions on transactions with the shares of Bashneft owned by Sistema, but they do not limit Sistema's voting rights, right to receive dividends or any other shareholder rights. Bashneft representatives do not comment on the situation.

According to RBC, 71.8 percent of Bashneft shares belonging to Sistema are arrested by the Court of Moscow Basman District at the request of the Investigative Committee. Investigators suspect businessman Levon Hayrapetyan of fraud, who could be engaged in selling Bashkir oil company to Sistema in 2008.

Rosbalt citing a law enforcement source informs that Levon Hayrapetyan is suspected of committing crimes under the Criminal Code Articles 160 (misuse of assets) and 174 (money laundering). According to investigators, the crimes were committed while selling Bashneft in 2008. It is assumed that Hayrapetyan unreasonably received a large interest from the transaction.

Kommersant marks that Bashneft securities can be frozen indefinitely and it jeopardizes SPO scheduled for this autumn.

#bashneft #shares #prohibition #sistema

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