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Russia may sell government’s whole stake in Bashneft oil company — minister

March 01, 15:24 UTC+3 MOSCOW
The Economic Development Ministry has begun to select investment consultants to assess the terms of privatization of Bashneft
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© Sergei Bobylev/ITAR-TASS

MOSCOW, March 1. /TASS/. Russia’s Economic Development Ministry has begun to select investment consultants to assess the terms of privatization of Bashneft oil company and does not rule that the whole stake of the government in the company can be sold, Economic Development Minister Alexey Ulyukayev told reporters.

"Such a possibility exists, actually this is our proposal (the sale of the whole stake owned by the government - TASS). Now we will select an investment consultant who will consult us on the market situation and possibilities for the sale," - he said.

Earlier a senior federal official said that Russia is considering three options for privatization of Bashneft - the sale of a 25% stake, of a 50% package and, together with a stake of Russia’s republic of Bashkiria - 75%.

Earlier head of Bashkiria Rustem Khamitov said that the Russian Ministry of Economic Development would like to sell the shares held by Bashkiria’s government, but it is impossible for the republic.

Earlier it was reported that Lukoil oil major was willing to take part in privatization of Bashneft and wants to buy the controlling stake, but it was yet to make an official proposal to the government.

Lukoil President Vagit Alekperov said that it may concern about 50% of the shares, which are in the federal ownership. He added that the deal could go through only if the payments were made in cash without the use of shares of Lukoil.

The Federal Antimonopoly Service made it clear that it would not object the purchase of Bashneft shares by Lukoil.

Bashneft oil company operates in more than 20 regions of Russia and abroad. The Federal Property Management Agency owns 50.08% of the share capital, the republic of Bashkortostan - holds 25% plus one share in the company.

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