State should reclaim Bashneft minority stake held by Sistema - prosecutors
MOSCOW. Dec 16 (Interfax) - The minority shareholding in Bashneft, which is still held by AFK Sistema , should be returned to the state, Russia's First Deputy Prosecutor General Alexander Buksman said in an interview with Interfax.
"It turned out that we have yet to complete the process of reclaiming federal ownership of all Bashneft shares held by AFK Sistema and its subsidiaries. In particular, on July 2 this year, 4 million of ordinary shares and 87,831 of preferred registered shares were written-off from ZAO Sistema-Invest's account in a repurchase transaction, with their mandatory return upon transaction payment. By now the shares have been returned and need to be transferred into state ownership," Buksman said.
"Today, Bashneft is back in state ownership again," he said.
"We believe the legality has been restored, and what to do about this asset is up to its owner, any options are acceptable: it may sell it and do so partially. Whatever it deems necessary, naturally, about its shareholding. Part of the assets are known to be the property of minority shareholders," the official said.