Russian Prime Minister Dmitry Medvedev has signed an order selling 50.075-percent stake in oil firm Bashneft to Rosneft.
"I have signed today a decree on the sale of 50.075% of shares in oil company Bashneft to the public joint stock oil company Rosneft at the price of 329.69 bln rubles ($5.28 bln)," Prime Minister said at a meeting.
"The payment for the shares needs to be carried out in a timely manner - before October 14 of this year of based on the purchase/sale agreement," the Prime Minister said.
He also noted that the Federal Agency for State Property Management (Rosimushchestvo) should make all the necessary decisions to include the revenues from this deal to the Russian federal budget.
"I hope that all the necessary decisions will be made in regard to the placement of Rosneft shares and needed investors for selling 19.5% of the company’s shares this year will be found," TASS cited Medvedev as saying.
