Today, Bashneft has completed the acquisition of 21,505,680 ordinary shares (19.04% of the authorized share capital) of PJSC Ufaorgsintez from CJSC Sistema-Invest for 3.55 billion roubles. The transaction has enabled Bashneft Group to consolidate 100% of voting shares in PJSC Ufaorgsintez.

The purchase of the said shareholding in PJSC Ufaorgsintez is consistent with the strategy for the development of Bashneft’s petrochemical business. The transaction, whose value had been determined on the basis of an independent valuation, was approved by Bashneft’s Board of Directors on March 18, 2016 in accordance with a directive of the Government of the Russian Federation.