The MAYOR instructed to provide conditions for the privatization of Rosneft by September

Recommendations of the investment consultant for privatization of “Rosneft” should be presented “Rosneftegaz” the Ministry of economic development of Russia till September 1, 2016. About it told RBC in the press service of the Ministry.

To ecomomy time Rosneftegaz must also submit to the Ministry’s preliminary recommendations on nominations to the strategic investors, as well as the timing, amount and price of the privatization of “Rosneft”, said the MAYOR.

Through Rosneftegaz, the state owns 69.5% of Rosneft. In the privatization plan for 2016 includes a 19.5% stake in the company. As stated earlier Wednesday, Deputy Prime Minister Igor Shuvalov, currently selling shares of “Rosneft” comes to the fore, and the issue of privatization of “Bashneft” the government will be back later.

Investment consultant in the transaction was chosen by the Italian Bank Intesa Sanpaolo. Legal consultant — firm White&Case, representing the interests of Russia in a U.S. court where the former shareholders of Yukos sought enforcement of a decision of the Hague arbitration on the payment of $50 billion.

In mid-April 2016, Minister of energy of Russia Alexander Novak said that the preparation of recommendations for the privatization of “Rosneft” to investment consultants will need one to two months.