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Rosneft submits mandatory offer

Published by
Hydrocarbon Engineering,

In accordance with the Russian legislation, on 15 November 2016 Rosneft submitted to Bashneft the mandatory offer for the acquisition of 55 466 137 Bashneft ordinary shares.

Comprising 37,52% of the total number of Bashneft ordinary shares, the company previously announced that the mandatory offer was reviewed by the Bank of Russia. The proposed acquisition price amounts to RUB 3 706.41 per Bashneft ordinary share (this evaluation corresponds to the parameters of the sale and purchase agreement for the government’s stake in Bashneft).

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