Bashkir Soda Company state-owned block shares were transferred to trust management by Decree of Russian President

The federal package of JSC "Bashkir Soda Company" (BSK, Sterlitamak) in the amount of 47% was transferred to the trust management of Russian Hydrogen, the presidential decree says. The law is published on the official portal of legal information.

“Accept the proposal of the government of the Russian Federation to transfer to the trust management of Russian Hydrogen JSC (Moscow) 757,343 federally owned ordinary shares of Bashkir Soda Company JSC without holding a tender for the right to agree on trust management of shares,” the document says.

The President instructed the Government of the Russian Federation to conclude an agreement that will establish key performance indicators for trust management. It should also contain obligations for their implementation and the conditions for terminating it.

As Bashinform News Agency reported, in December 2020, the Arbitration Court, at the suit of the Prosecutor General's Office of the Russian Federation, declared the privatization of 1993 and all subsequent splitting of the company illegal, as a result of which the state lost control over it. The company's property was transferred to state ownership. In March 2021, Vladimir Putin announced that Bashkiria, at the request of the republic's leadership, would receive back ownership of 38.3% of BSK's shares, and another 11.7% plus one share was transferred to trust management. Thus, Bashkiria received a controlling stake and total control over the largest enterprise in the chemical industry.