04:58 GMT +313 November 2019
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    The sign of a Rosneft gas station in Moscow

    Rosneft Offers $3 Mln Buyout to Bashneft Minority Owners

    © Sputnik / Grigory Sysoev
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    Russia's Rosneft oil company said Tuesday it had offered minority owners of Bashneft a buyout totaling 205.6 billion rubles ($3.1 billion).

    MOSCOW (Sputnik) — Rosneft bought 50.0755 percent of Bashneft's shares for $5 billion in October.

    "The proposed price of acquired stocks is 3,706.41 rubles [$56.74] for one ordinary share of Bashneft," Rosneft said in a statement, saying that the Bank of Russia had reviewed the offer.

    On Tuesday, Rosneft sent Bashneft a mandatory offer in accordance with Russian legislature to buy 55,466,137 ordinary shares making up 37.52 percent of Bashneft's ordinary shares.

    The news comes amid a major corruption scandal, involving Russian Economic Development Minister Alexei Ulyukayev who was charged earlier in the day with bribery. Ulyukayev demanded a bride for a positive assessment of Russian energy company Rosneft's acquisition of Bashneft company's shares.


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