OREANDA-NEWS. September 21, 2009. Sistema (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, announced that it has submitted a mandatory offer to the Federal Financial Markets Service (“FFMS”) to acquire minority shares in ANK Bashneft JSC, in accordance with the Russian Federal Law on Joint Stock Companies, reported the press-centre of Sistema.

Sistema acquired a controlling stake in ANK Bashneft JSC in April 2009.  According to the Russian legislation, Sistema is required to make a mandatory buyout offer to minority shareholders in Bashneft. The details of the offer will be published following the receipt of the approval from FFMS.