print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Financial Corporation "Sistema" REGISTER LOG IN

Press Releases > Financial Corporation "Sistema"  all about the company

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

October 1, 2009

Sistema EGM to consider sale of controlling stakes in five Bashkir energy companies to Bashneft

Moscow, Russia – October 1, 2009 – Sistema (the “Group”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder in companies operating in different industries, today announced that its Board of Directors has proposed to the Extraordinary General Meeting of Sistema shareholders to be held on November 16, 2009 that the EGM approves the sale of Sistema’s stakes in Ufaneftechim JSC, Novoil JSC, Ufaorgsintez JSC, Ufimskiy NPZ JSC and Bashkirnefteprodukt JSC to ANK Bashneft JSC (“Bashneft”). Shareholders as at the record date of October 5, 2009 are eligible to participate in, and vote at, the EGM by proxy.

Sistema acquired a controlling stake in ANK Bashneft JSC in April 2009, and submitted a mandatory offer to the Federal Financial Markets Service on September 16, 2009 to acquire minority shares in ANK Bashneft JSC.

Vladimir Evtushenkov, Chairman of the Board of Directors at Sistema, commented: “As previously indicated, our objective is to build up a vertically integrated oil company that Bashneft will manage. The decision to sell the controlling stakes in the five Bashkir companies to Bashneft is the next step in the optimisation of the business processes of the Bashkir Oil and Energy Group.”

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer