Sistema-Invest has increased its stake in Bashneft from 9.9 to 12.6 percent

UFA, 10 November 2014. /Bashinform News Agency, Elvira Latypova/. A subsidiary of Sistema JSFC - OJSC Sistema-Invest has increased its stake in JSOC Bashneft from 9.91 to 12.57 percent, Bashneft reports.

According to media citing the sources in Sistema JSFC, the redemption of 2.66 percent of Bashneft ordinary shares is produced as part of a repurchase transaction of summer 2014. Since then, the block of shares fell by 52 percent – by more than 5 billion rubles. RBC notes that the repo transaction was concluded on the day before the arrest of Bashneft shares belonging to Sistema.

The decision of the Arbitration Court of Moscow on withdrawal of Bashneft shares in favour of the state does not apply to the redeemed block of shares.