Bashkortostan plans to sell remainder of its stake in Bashneft oil co to Rosneft - head of republic

UFA. Aug 12 (Interfax) - Bashkortostan plans to sell the remainder of its stake in the Bashneft oil company to Rosneft , the internal Russian republic's head, Radiy Khabirov, said at a meeting with the press.

"We plan to sell our remaining stake in Bashneft. We don't get involved in operating processes. And when there's not enough money, the natural thing to do is to sell what is yours because borrowing on the market is expensive. We've sold a first tranche [of our stake in Bashneft] to Rosneft, and now we plan to sell the remainder to it," he said.

The republic's prime minister, Andrei Nazarov, told Interfax at the beginning of June that Bashkortostan had sold some of its stake in Bashneft on the condition it could be repurchased "when the republic has such an opportunity." The buyer was Rosneft.

Bashkortostan sold part of its stake in Bashneft for 14.8 billion rubles, the republic's acting finance minister, Svetlana Malinskaya, has said.

Bashneft's charter capital is 177,634,501 rubles, divided into 147,846,489 ordinary shares with a par value of 1 ruble (83.23% of charter capital) and 29,788,012 preferred shares with a par value of 1 ruble (16.77%).

Bashkortostan owned a blocking stake of 25% plus one share in Bashneft until the middle of 2026 - the republic held 44.4 million shares of Bashneft: 38.1 million ordinary shares and 6.3 million preferred shares. A controlling 57.66% stake in Bashneft was held by Rosneft and another 4.41% by Bashneft-Invest LLC.