Sistema JSFC will not buy United Petrochemical Company from Bashneft

UFA, 24 September 2014. /Bashinform News Agency, Elvira Latypova/. Sistema JSFC will not buy United Petrochemical Company from Bashneft, this was reported by the press service of the holding on Wednesday. "The acquisition of a 98% stake in OJSC United Petrochemical Company from JSOC Bashneft has not been completed. Bashneft retains UPC ownership", it is said in the press release.

Bashneft declined to comment on the information. According to a person close to the company in the near future Bashneft will consider several options of United Petrochemical Company development.

Recall that Bashneft and Sistema JSFC agreed on the sale of UPC in the summer of 2013. It was supposed to sell Sistema JSFC the 98% stake in the authorized capital of UPC owned by Bashneft for 6.2 billion rubles.

OJSC United Petrochemical Company is a petrochemical group, the owner of Bashkir Ufaorgsintez, Tuimazinkoye and Shkapovskoye Gas Processing Plants and Bisphenol-A plant.