Key Developments: ANK Bashneft' OAO (BANE.MM)

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Latest Key Developments (Source: Significant Developments)

Moscow court rules in favor of returning Aktsionernaya Finansovaya Korporatsiya Sistema OAO shares in ANK Bashneft' OAO to state-Reuters
4:27am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:The Moscow Arbitration court ruled that shares in ANK Bashneft' OAO owned by Russian conglomerate Sistema should be returned to the state after an "improper privatisation"-Reuters.A Reuters correspondent at the court said the judge had ruled in favor of the General Prosecutor's office, which argued that oil producer Bashneft was unlawfully privatized in the early 2000s and subsequently sold to Sistema in 2009.Sistema's main owner and chairman Vladimir Yevtushenkov was placed under house arrest in Sep. for alleged involvement in money laundering related to the Bashneft sale.  Full Article

ANK Bashneft' OAO divests its stake in Mobel-neft' OOO
12:56am EDT 

ANK Bashneft' OAO:Decides to divest its stake in Mobel-neft' OOO, because of its liquidation.Date of the Board of Directors meeting at which the relevant decision was taken Oct. 29.  Full Article

FAS allows ANK Bashneft' OAO to acquire Bashkir and Samara filling stations-Interfax
Wednesday, 22 Oct 2014 06:33am EDT 

ANK Bashneft' OAO:Russia's Federal Anti-Monopoly Service (FAS) has approved a request of ANK Bashneft' OAO to acquire 100 percent of AZS Aktan OOO, FAS said-Interfax.According to FAS materials, AZS Aktan is registered in Samara and its main activities are lease of its own property and retail trade of fuel.According to SPARK-Interfax database, over 80 percent in AZS Aktan is owned by Aktan OOO, which is controlled by three private investors.Also, FAS has approved a request of Bashneft'-Roznitsa OOO to acquire main manufacturing assets of AZS-Aktiv ZAO.According to FAS materials, AZS-Aktiv is registered in Ufa, and is engaged in the lease of its own property and retail trade of fuel.According to SPARK-Interfax database, AZS-Aktiv is privately owned.  Full Article

ANK Bashneft' OAO to raise oil production 10.5pct to 17.8 million tons in 2014-Interfax
Tuesday, 7 Oct 2014 11:21pm EDT 

ANK Bashneft' OAO:Plans to produce 17.8 million tons of oil in 2014, the oil company's President, Aleksandr Korsik said in an interview with TV channel Rossiya 24-Interfax.The company produced 16.1 million tons of oil in 2013, so it could increase production by 10.5pct in 2014.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO announces statement regarding its stake in ANK Bashneft' OAO
Monday, 29 Sep 2014 03:38am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Says that it has received a notice from OJSC REESTR relating to the shares of ANK Bashneft' OAO owned by Sistema and CJSC Sistema-Invest (the Bashneft Shares).According to the notice, the Moscow Court of Arbitration has imposed a restriction on transactions relating to the Bashneft shares.The restriction is in connection with a civil claim against Sistema and Sistema Invest resulting from an investigation reportedly related to the privatisation of BashTEK Group.The restriction does not affect Sistema's and Sistema-Invest`s voting rights, but prevents transactions in Bashneft shares and the receipt of dividends, which will be paid into an escrow account pending resolution of the investigation.The restriction is effective from Sep. 25 and is independent to the one announced on July 15 in connection with a separate criminal investigation.Says Sistema was not party to the privatisation of BashTEK Group and will use all available legal means to defend its rights.Says Sistema is continuing to cooperate fully with the investigations and will update the market as appropriate.  Full Article

ANK Bashneft' OAO approves acquisition of AZS AKTAN ZAO
Wednesday, 24 Sep 2014 01:19am EDT 

ANK Bashneft' OAO:Says that its Board of Directors has approved acquisition of 100 percent stake in AZS AKTAN ZAO.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO says acquisition of 98 pct in UPC from ANK Bashneft' OAO has not been completed
Wednesday, 24 Sep 2014 12:00am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Says that the acquisition of a 98 percent stake in OJSC United Petrochemical Company (UPC) from its subsidiary ANK Bashneft' OAO (Bashneft) has not been completed.Bashneft retains ownership of UPC.  Full Article

Moody's places Aktsionernaya Finansovaya Korporatsiya Sistema OAO and ANK Bashneft' OAO ratings on review for downgrade
Thursday, 18 Sep 2014 10:43am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Moody's Investors Service has placed on review for downgrade the Ba2 corporate family rating (CFR) and the Ba2-PD probability of default rating (PDR) of Aktsionernaya Finansovaya Korporatsiya Sistema OAO (Sistema).Concurrently, Moody's has placed on review for downgrade the Ba2 CFR and the Ba2-PD PDR of ANK Bashneft' OAO (Bashneft), which is a 74 percent subsidiary of Sistema.The placement on review for downgrade reflects substantial uncertainty and limited transparency over how both companies could be affected by the evolving situation regarding the investigation of the Bashneft privatisation by the Investigative Committee of the Russian Federation.The review will be focused on the assessment of any implications of the situation for each company's business and financial profile.Rating actions are confined to Sistema and Bashneft.At present, the rating of Mobile TeleSystems OJSC (Baa3 stable), another subsidiary of Sistema, remains unaffected.  Full Article

Basmanny Court declines Aktsionernaya Finansovaya Korporatsiya Sistema OAO appeal and upholds seizure of ANK Bashneft' OAO shares-Interfax
Thursday, 18 Sep 2014 10:12am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:The Moscow Basmanny Court has declined the appeal filed by representatives of AFK Sistema contesting the actions taken by the investigator who had refused to lift the seizure on ANK Bashneft' OAO (Bashneft) shares, court press officer Anna Fadeyeva told Interfax-Interfax."The court has declined the appeal filed by lawyer Kozin," Fadeyeva said.Fadeyeva specified that the decision to uphold the seizure of the shares was made by the Basmanny Court back in late Aug.In the meantime, nothing was known about the court verdict.Besides the appeal contesting the investigator's actions filed with the Basmanny Court, the lawyers also filed an appeal with the Moscow City Court, which declined the appeal and upheld the seizure of the shares on Aug. 27.The case involving the illegal sale of Bashneft shares, which involves Vladimir Yevtushenkov, the head of AFK Sistema, former Bashneft CEO Ural Rakhimov, and businessman Levon Airapetyan, has been investigated since April.During this investigation, the Moscow Basmanny Court seized the packages of shares of Bashneft, Ufaorgsintez, and Bashkir Electrical Power Grid Company, which are owned by AFK Sistema.The head of AFK Sistema is charged wit money laundering and is under house arrest.  Full Article

Fitch puts Aktsionernaya Finansovaya Korporatsiya Sistema OAO, Mobile TeleSystems OAO, ANK Bashneft' OAO on rating watch negative
Thursday, 18 Sep 2014 07:28am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Fitch Ratings has put the ratings of Aktsionernaya Finansovaya Korporatsiya Sistema OAO (Sistema) and its subsidiaries Mobile TeleSystems OAO (MTS), ANK Bashneft' OAO (Bashneft), and MTS Bank on rating watch negative (RWN).The rating actions follow charges being levied against Vladimir Evtushenkov, the majority shareholder and Chairman of the Board of Directors of Sistema, in connection with the legalization of shares of BashTEK group.Fitch believes the consequences may be negative for all the affected companies, but the likelihood of negative developments and the exact impact cannot be estimated at this stage.Sistema made a public announcement that its major shareholder and Chairman of its Board of Directors was charged with legalization of shares of BashTEK group.Sistema's management believes that the acquisition of BashTEK group was legal and transparent.  Full Article

Russia's Sistema considers appeal against Bashneft court ruling

MOSCOW, Oct 30 - Russian oil-to-telecoms group Sistema, controlled by billionaire Vladimir Yevtushenkov, said on Thursday it disagreed with a court decision to seize its shares in oil company Bashneft and was considering an appeal.

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