Sistema: Fails to Complete United Petrochemical Company Acquisition
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces that the acquisition of a 98% stake in OJSC United Petrochemical Company (“UPC”) from the Group’s subsidiary JSOC Bashneft has not been completed. Bashneft retains ownership of UPC.
The meeting of Bashneft’s shareholders to consider selling the Company’s stake in UPC
The Board of Directors of JSOC Bashneft has decided that the Company should sell its stake in the authorized share capital of OJSC United Petrochemical Company (UPC) to OJSC JSFC Sistema; currently, Bashneft owns a 98% stake in UPC’s authorized share capital. The Board has submitted this proposal to the …