Sistema transferred Bashneft first tranche on amicable settlement

UFA, 29 December 2017. /Bashinform News Agency, Ksenia Kalinina/. Sistema JSFC transferred Bashneft the first tranche in the framework of an amicable agreement signed by participants in the court dispute on December 22. It amounted to 20 billion rubles. It remains to pay 80 billion rubles to Rosneft's affiliate. This is reported by RBC with reference to a representative of Sistema.

The remaining amount should be transferred by two equal parts of 40 billion rubles each until February 28 and March 30, 2018, respectively. Funds for payment will be attracted with the help of the Russian Direct Investment Fund and Sberbank.

As Bashinform News Agency reported, on December 26, the Arbitration Court of Bashkortostan approved the amicable agreement between Rosneft, Bashneft, Bashkortostan and Sistema JSFC in a dispute over the reorganization of Bashneft. Rosneft abandoned new suits against Sistema over Bashneft, which it had owned until the end of 2014. Sistema JSFC and its subsidiary Sistema-Invest will reimburse Bashneft 100 billion rubles of losses, 80 and 20 billion rubles, respectively.