RDIF and its partners have refused to participate in the privatization of “Bashneft”

РФПИ с партнерами отказались от участия в приватизации "Башнефти"

The Russian direct investment Fund (RDIF) and its partners have decided not to participate in the privatization of “Bashneft” because the amount requested for state-owned companies, significantly above the initial estimate, told RIA Novosti the head of the Fund Kirill Dmitriev.

The government on Thursday announced a Directive to Rosneft’s purchase of 50.08% of shares of “Bashneft” at a price not higher than 330 billion rubles. The corresponding contract of purchase and sale must be signed before October 15. Assessment of the controlling stake of “Bashneft” made earlier EY was 297-315 billion rubles.

“RDIF with international partners will not participate in the privatization of Bashneft in connection with the fact that the amount requested for the package of shares of the company significantly exceeds the original estimate,” said Dmitriev.

The FUND was formerly named among the contenders for this asset. Dmitriev at the beginning of September it was confirmed that the Fund is interested in the deal.

The government’s decision on the resumption of privatization of “Bashneft” announced on 30 September the first Deputy Prime Minister Igor Shuvalov. The official said that the government plans to sell the government’s stake in oil company. The main news of the Shuvalov’s statement was that to participate in this privatization deal made Rosneft.

RDIF on the same day, confirmed his interest in the government’s stake in Bashneft.