Moscow, 22 December 2017 – Sistema PJSFC (“Sistema” or the “Corporation”) (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that it has signed a settlement agreement with Rosneft, Bashneft and the Republic of Bashkortostan.
According to the agreement, all sides will recall all their lawsuits and abandon all claims against each other, and Sistema will be obliged to pay Bashneft RUB 100 billion by 30 March 2018. Sistema will make this payment using its own as well as borrowed funds.
Sistema would like to express its gratitude to the Russian Direct Investment Fund for its active contribution in reaching the settlement and to Sberbank of Russia for its contribution and assistance in signing the settlement agreement.
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