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Russia's Putin says Rosneft used own funds for Bashneft's purchase
October 12, 2016 / 3:47 PM / a year ago

Russia's Putin says Rosneft used own funds for Bashneft's purchase

NOVO-OGARYOVO, Russia, Oct 12 (Reuters) - Russian President Vladimir Putin said on Wednesday that the Kremlin-controlled Rosneft has used its own funds to buy a controlling stake in mid-sized oil producer Bashneft.

The Russian government earlier completed the sale of the Bashneft stake for 329.69 billion roubles ($5.30 billion).

The sale is a part of a government privatisation drive aimed at narrowing the state budget deficit.

Reporting by Denis Pinchuk; writing by Vladimir Soldatkin; Editing by Adrian Croft

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