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).
Read the article online at: https://www.hydrocarbonengineering.com/product-news/28112016/rosneft-submits-mandatory-offer/