Bashneft privatization may be held till the end of the year

UFA, 10 May 2016. /Bashinform News Agency, Ksenia Kalinina/. Bashneft privatization has to take place before the end of 2016, «Izvestiya» reports. According to the newspaper, the asset sale scheme to be prepared by August. The majority of stakeholders support the sale of the asset to a strategic partner. Experts believe that in this case it will be a Russian investor.

According to one source familiar with the situation, the Russian Ministry of Economic Development was instructed to prepare the relevant documents by August of this year.

Earlier, the Ministry of Energy held a meeting with the consultant of Bashneft privatization - "VTB Capital", where the schedule of the transaction was discussed.

"The meeting was held. We discussed the schedule for Bashneft privatization until the end of 2016", the Deputy Energy Minister Alexey Teksler said.

According to him, it was only about the federal stake. Bashkortostan will make a decision independently. Alexey Teksler also noted that the criteria for potential strategic partners to be determined, after which they would be discussed in the Government of Russia.

Now the Federal Property Management Agency controls 50.08 percent of Bashneft shares, Bashkortostan - 25 percent plus one share, 4.67 percent – are quasi shares, 15.59 percent – belong to other entities, including nominal holders, and 4.66 percent stake in the company is owned by individuals.