russias sistema rosneft settle dispute over bashneft
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Russia's Sistema, Rosneft settle dispute over Bashneft

Arab Today, arab today

Arab Today, arab today Russia's Sistema, Rosneft settle dispute over Bashneft

Russia's state oil giant Rosneft.
Moscow - Arab Today

Russian oil giant Rosneft said Friday it has settled its long-running dispute with rival Sistema over its controversial deal to acquire oil company Bashneft.

The two companies have been locked in a bitter legal battle over a deal dating back to 2016 under which Rosneft acquired Sistema's majority stake in Bashneft for 329.69 billion rubles, then worth some $5.2 billion.

But Rosneft accused Sistema of carrying out a reorganisation of Bashneft before it came under Rosneft's control, causing it to suffer losses now.

In August, a Russian court had ordered Sistema -- owned by tycoon Vladimir Yevtushenkov -- to pay 136 billion rubles in damages to Rosneft.

But Sistema appealed the decision and last week filed its own lawsuit against Rosneft, claiming damages of its own of 330.5 billion rubles.

However, in order to settle the dispute once and for all, Sistema had finally agreed to pay Rosneft 100 billion rubles ($1.7 billion) in compensation, Rosneft said in a statement.

The sum would be paid with the help of a government investment fund and Russia's Sberbank, Rosneft said, adding that the deadline for payment was March 30, 2018.

On Thursday, Russian President Vladimir Putin had told a meeting of business leaders, at which Rosneft's chief Igor Sechin and Sistema's Yevtushenkov were both present, that he hoped a deal could be reached.

Sistema shares rose by 17.73 percent on the Moscow Stock Exchange Friday on the news of the settlement.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russias sistema rosneft settle dispute over bashneft russias sistema rosneft settle dispute over bashneft

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russias sistema rosneft settle dispute over bashneft russias sistema rosneft settle dispute over bashneft

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 12:28 2018 Saturday ,06 January

Bonobos prefer bullies over 'nice guys'

GMT 07:56 2018 Wednesday ,10 January

Ukrainian court arrests suspect over lawyer murder

GMT 21:31 2017 Monday ,28 August

Train traffic on Cairo-Alexandria line normal

GMT 10:05 2018 Friday ,19 January

Lebanon reverses ban on Spielberg's 'The Post'

GMT 23:21 2018 Monday ,08 January

PM dispels remours about any kind of NRO

GMT 21:25 2016 Tuesday ,06 September

Explosion rocks Kabul

GMT 16:41 2017 Monday ,16 January

Japan to supply new patrol boats to Vietnam

GMT 15:50 2011 Thursday ,23 June

Lumma design’s White Pepper

GMT 07:21 2017 Wednesday ,15 February

Yemenis mark six-year anniversary of uprising

GMT 11:24 2016 Wednesday ,31 August

GE names Richard Laxer CEO of GE Capital

GMT 21:23 2016 Thursday ,08 December

Emir of Kuwait meets Saudi King

GMT 14:54 2016 Thursday ,10 November

Arab celebrities weigh in

GMT 10:28 2016 Sunday ,04 December

Saudi King Salman arrives in United Arab Emirates

GMT 23:11 2017 Sunday ,13 August

All CR owners must visit www.sijilat.bh

GMT 13:03 2017 Wednesday ,15 February

EU Parliament approves landmark Canada trade deal
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday