Bashkiria to control a stake in Bashneft under supervision of Rosimuschestvo

​Bashkiria that acquired the blocking package in Bashneft in June undertook to agree all actions on the management over the company with the controlling shareholder – Rosimuschestvo. The sale of Bashneft’s shares without its agreement is not possible.

The parties agreed that all actions of the authorized body of Bashkiria on the execution of the rights of Bashneft’s shareholder are to be held in agreement with Rosimuschestvo, is said in the shareholder agreement of Bashneft which was signed by the head of Rosimuschestvo, O. Dergunova, and President of Bashkiria, R. Khamitov.

In December 2014 Sistema returned the controlling package of Bashneft’s shares to the Government and in half a year by the decision of the Government of Russia the blocking package of shares was transferred to Bashkiria. As a result Rosimuschestvo holds 60.16% of voting shares, Bashkiria – 25.79%.