VTB Capital, an investment advisor in privatization of the government’s 50.08% stake in Russian oil company Bashneft, has recommended selling the stake in a single lot, Economic Development Minister Alexei Ulyukayev said.
“The advisor’s recommendation is a sale in a single lot”, he said. “We are completely ready for that, and I mean VTB Capital, the deal’s organizer. We are within the schedule, and we are ready to do it in October”.
On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its stake in Bashneft, and oil major Rosneft was granted access to the deal. The government was discussing allowing Rosneft to buy the stake for about 325 billion rubles without an auction. (Prime/Business World Magazine)