OREANDA-NEWS. April 13, 2010. Bashneft has presented the Federal Service for Financial Markets (FSFM) with an obligatory offer for the share buyout in Bashkirenergo (RTS: BEGY), controlled by the companies in the Bashkir fuel and energy complex. Bashneft is prepared to acquire 519 646 381 common shares in Bashkirenergo, at 47.55% of its share capital and 49.84% of its common stock. The offer was presented.

Under current laws, the obligatory offer from Bashneft will be passed on to Bashkirenergo shareholders 15 days after the offer was presented to FSFM, unless the regulator has issues. The price Bashneft has paid for Bashkirenergo is fairly hard to determine. In all likelihood, the offer price will be close to the weighted average price for Bashkirenergo shares in the previous half a year. That price is below the current quotes for company shares and is unlikely to interest investors. The buyout offers made by Bashneft to Ufa-based oil refineries in February 2010 likewise offered no premium over the market.