Russia - 06

Russia: Sechin Steamrolls Opponents and Captures Bashneft

On 6 October the Russian government published a directive signed by First Deputy Prime Minister Igor Shuvalov authorizing Rosneft CEO Igor Sechin to acquire a controlling stake in Bashneft for up to $5.3bn. The directive states that the purchase must be completed by 15 October. While in theory, the government may still hold an auction for the privatized stake in Rosneft, the tight deadline for the sale means that Rosneft will acquire the stake without any competition.

To continue reading, please submit your contact details along with a short message below indicating what you'd like to learn more about and we'll get back to you.