Mergers

New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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Rosneft’s Board of Directors agrees the granting of a credit of 61.2 billion rubles to Itera

Rosneft’s Board of Directors agrees the granting of a credit of 61.19 billion rubles to Itera NGK. The credit will be granted for the financing of investment activity for 3 years. The total transaction sum including interests is 79.55 billion rubles.
At  the beginning of July, Rosneft consolidated 100% in Itera NGK, having bought out 49% from Itera Holdings Limited for $2.9 billion. The transaction on  thepurchase of 51% in Itera NGK was closed in August 2012.

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Minority shareholders of BP-TNK claim Rosneft must redeem their shares

The minority shareholders of BP-TNK Plc. haven't obtained any dividends for 2012 and initiated a case against Rosneft claiming that the company should redeem their shares. Lawyers say, in compliance with the technical interpretation of the Company Law, Rosneft doesn’t have to redeem the shares of the minority shareholders.
On August 7th,the minority shareholders of BP-TNK Holding, Viktor Tsobenko and Sergey Davydov initiated two cases against Rosneft in the Moscow Arbitration Court. Tsobenko specified, he asked the court to oblige Rosneft to make the minority shareholders of BP-TNK Holding a public offer “to purchase their securities in the order presupposed by cl. 84.2 of the Company Law”. The shareholder said, there were no “legal reasons” to ask for dividends for 2012. “This is the responsibility of Igor Sechin who damages the investment climate and the value of the shares of Rosneft”, Tsobenko claimed.

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The Board of Directors of Bashneft to consider the merger strategy

On Tuesday the Board of Directors of Bashneft will consider the company’s merger strategy, is said in the agenda.
Besides, implementation of the decisions of the Board, the report about the measures taken by the company’s management to fulfill the budget-2013 and the organization of purchases and material-technical supply will be considered, RIA News reports.

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LUKOIL BUYS OMV's LUBRICANT BUSINESS IN EUROPE

This transaction is in line with our company’s strategy that provides for further expansion of LUKOIL’s lubricant business on the global market. The favorable geographic location near foreign car makers and industrial enterprises, a well-tuned distribution system in Europe, modern production facilities, unique scientific developments and the vast professional experience of the company’s employees are the significant factors that became decisive for us”, Vagit Alekperov, OAO LUKOIL President, commented.

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Rosneft considers the possible purchase of Bashneft

Rosneft considers the possible purchase of Bashneft, Vedomosti reports with reference to  sources close to the main shareholder of Bashneft,AFK Systema.

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Greece can probably make concessions to Gazprom on the issue of DEPA

Greece will allegedly make concessions to Gazprom on the issue of DEPA privatization. The country’s authorities agreed to change a number of DEPA purchase conditions in compliance with the interests of Gazprom.
On May 24, 2013 HRADF privatization agency approved the parameters of DEPA privatization, having reduced the obligatory payment under guarantee, which must be transited by the buyer before the transaction is completed, from 20% to 10% of its total value. Besides, if the transaction is blocked by the antimonopoly bodies of EU, the payment under guarantee will be returned to Gazprom in the full volume.

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Rosneft thinks that the integration with BP-TNK will last until the middle of 2014

Rosneft thinks that the integration with BP-TNK will last until the middle of 2014. Rosneft closed transaction on purchase of 100% in BP-TNK in March, having paid $16.65 billion to BP and $27.73 billion to AAR.

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BP-TNK will hold the first annual shareholders meeting as a Rosneft subsidiary on June 27 2013

Earlier Igor Sechin, the chief of Rosneft owning BP-TNK announced about possible execution of the annual shareholders meeting on 27th June. He summoned the minority shareholders to make ‘constructive suggestions’ for discussion.
The news contains no recommendations about dividend sin 2012. Before its consolidation by Rosneft in March 2013, BP-TNK traditionally paid the highest dividends in the sector. It paid 40% of net profit every quarter.

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Rosneft modifies its dividend policy after merger with BP-TNK

Rosneft modifies its dividend policy for the united company after merger with BP-TNK. The corporative standards are 25% of net profit by ISA. On Wednesday, the President of Rosneft I. Sechin met with the investors and claimed that in near time the company would not make any offers for shares buying out from minority shareholders but it could be understood from his words that the shareholders would probably be able to get their dividends. On Wednesday, Rosneft securities declined in price by 2.27% at the background of common decline of the market; the index at MICEX  declined by 1.22%.

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