Highlights of the Year
Net income, US$
High Tech assets restructuring
Objective: Expansion of systems integration division.
In September 2012, RTI Group and NVision Group Managing Company LLC completed the strategic combination of RTI Group’s and CJSC NVision Group’s information and communication technologies assets. RTI Group (including the assets of RTI and SITRONICS) now owns a controlling stake of 50%+0.5 of a share in CJSC NVision Group. NVision Group’s shareholders retain a stake of 50%-0.5 of a share in the company. RTI Group paid a total cash consideration of RUB 3 bln and contributed certain assets.
Increased transparency of Bashneft’s shareholder structure
Objective: Improve structure and corporate governance.
In April 2012, the EGM of Bashneft approved the consolidation of its downstream assets through a merger of its subsidiaries – OJSC Bashkirnefteprodukt, OJSC Ufaneftekhim, OJSC Orenburgnefteprodukt, OJSC Ufimsky refinery plant and OJSC Novoil – with Bashneft. In October 2012, Bashneft completed the reorganisation.