Ulyukayev called the sales price of the state stake in Bashneft – Interfax

Moscow. 9 Oct. INTERFAX.RU – Minister of economic development of Russia Alexei Ulyukayev told reporters that the sales price of the state package of shares of the company “Bashneft” will be from 325 billion to 330 billion rubles.

the Ministry of economic development prepared a draft government regulation on the sale of 50.08% of shares of “Bashneft” company “Rosneft”. According to the speaker, Rosneft is the only company that has made a legally binding offer at a price above the value determined by the appraiser. He did not comment when you get the order, noting that, if the government so decides, it must occur before October 15.

the Minister noted that, according to the Bank Intesa (consultant Rosneft – if), synergies for Rosneft buying Bashneft will be 150-180 billion rubles.

He did not mention what the second company made a legally binding offer, noting that it was not LUKOIL.

Commenting on the question at what price will be made selling, Ulyukayev said that “may be in the range of 325-330 billion rubles.” The proceeds from the sale, according to him, in this case, go to the budget this year.

Commenting on the question of why “Rosneft” has proved profitable to buy a package of Bashneft at a price above the price of the evaluator, the speaker explained that a “consultant Bank Intesa argued in the following way synergy: first of all, it is recycling, because part of the crude oil produced by Rosneft, Bashneft processed, there is the optimization of the oil flow, there is a serious economy”. “Another important aspect is the synergy that arises from the integrated development of fields, which now belong to Rosneft and Bashneft. I think that here there is an effect that they estimate for the sum from 150 to 180 billion rubles”. “Accordingly, this increases the value of the asset itself Rosneft”, – the Minister added.

As reported this week on the website of the government published a Directive to the state representatives in Board of Directors NK “Rosneft” regarding a vote on the question of the purchase of a controlling stake of “Bashneft”. The Directive was approved by first Deputy Prime Minister Igor Shuvalov, the government said without specifying the date (according to sources “Interfax”, she signed on 1 October).

As reported sources of “Interfax”, the Directive prescribes to vote for the purchase 50,0755% of shares of “Bashneft” for the sum of not more than 330 billion rubles. The head of “Rosneft” was instructed to sign the contract of purchase and sale of the stock, providing subsequent receipt of all requisite corporate approvals and decisions of public bodies under the Russian legislation and the Charter of the NDT, in the period until October 15.

At the meeting of 1 October, the Board of Directors of Rosneft has approved its participation in the privatization of “Bashneft”, reported the source, “Interfax”. The Board of Directors of “Rosneft” took place in the day of the announcement, Prime Minister Dmitry Medvedev on the resumption of the process of privatization of “Bashneft”. Shuvalov then stated that the government does not intend to restrict the participation of “Rosneft” in the privatization of state-owned stake of “Bashneft”.

Earlier, the Ministry of economic development reported about 9 candidates for “Bashneft”. The main ones the market called the “Rosneft” and “LUKOIL”. Also among the contenders for the “Bashneft” was called “Tatneft”, “Independent oil and gas company” (NOC, belongs to the ex-head of “Rosneft” Eduard Khudainatov), “RussNeft” Mikhail Gutseriev, businessman, little known “Tatneftegaz”, Russian direct investment FUND with foreign partners, Fund Energy former energy Minister Igor Yusufov, Antipinsky oil refinery. According to an independent valuation by Ernst&Young, the government’s stake in Bashneft in August was estimated in the range from 297 billion to 315 billion rubles.