1 Oct 2009 14:19

Sistema offers Bashneft shareholders 286.5 rubles per share

MOSCOW. Oct 1 (Interfax) - AFK Sistema has offered to pay minority shareholders in Bashneft 286.5 rubles per ordinary share, Sistema said in a statement.

The shareholders have 80 days to accept the offer.

VTB is providing the bank guarantee for the offer.

Sistema acquired a controlling stake in Bashneft last April. It is legally required to make an offer to buy ordinary shares from remaining shareholders.