11 Mar 2012 16:13

Bashneft aims to consolidate Bashkir fuel and energy subsidiaries

MOSCOW. March 11 (Interfax) - Bashneft intends to reorganize most of its fuel and energy subsidiaries based in Bashkortostan, the oil company said in a statement.

Shareholders will vote on the reorganization on April 27. The record date is March 14.

The company aims to consolidate Bashkirnefteproduct , Ufaneftechim , Orenburgnefteproduct, Ufa Oil Refinery and Novo-Ufimsky Refinery, but not Ufaorgsintez .

Bashneft will issue new shares to facilitate the consolidation and convert them into shares in the subsidiaries.