AFK Sistema offered Rosneft an effective mechanism for out-of-court settlement of the dispute, Forbes spokesman Sergei Kopytov told AFC.
"The company appealed to Rosneft with the proposal of an effective mechanism for out-of-court settlement of the dispute," Kopytov said. The company does not disclose details. The comment of the representative of Rosneft at the time of publication of the material was not obtained. The chairman of the board of Rosneft, Igor Sechin, in turn, stated the need to verify the legitimacy of the proposal.
"I worked at the meeting until information is available. Considering that some settlement proposals came before the court, we need to check whether there are any legitimate proposals. Therefore, I will refrain from commenting for the time being, "Sechin told journalists in Sochi (quoted by TASS). The main beneficiary of AFK Sistema Vladimir Yevtushenkov told the agency that the company is ready to consider any options for resolving the dispute with Rosneft. "We are ready to consider any options for discussion," he said.
Sistema JSFC ended Thursday's trading nearly 8% up on the news about the offer for Rosneft to out-court settlement of the dispute, according to the Moscow Stock Exchange. By 18:40 Moscow time, AFC shares rose 7.7%. The MICEX index at the same time rose by 0.7%. Rosneft's shares rose 0.2%.
Igor Sechin previously stated that AFK Sistema did not come out with the issue of a peaceful settlement of the dispute. At the same time, Sechin refused to comment on the actions of Rosneft if Sistema approached the settlement agreement. However, he noted that Rosneft has determined its position and will defend it. Sechin denied the existence of a conflict between him and the shareholder of Sistema Vladimir Yevtushenkov F 30.
History of the dispute
The Moscow Arbitration Court on May 2, 2017 registered the lawsuit filed by Rosneft and its controlled Bashneft to recover more than 106.6 billion rubles from AFK Sistema and its subsidiary Sistema-Invest. On May 10, the court returned the claim without consideration. The ruling said that the relevant decision was taken because the claim is not prosecutable to the Moscow Arbitration Court. After that, Rosneft filed a claim for the same amount in the Arbitration Court of Bashkortostan to avoid issues with the jurisdiction of the case. The first court session was held on June 6, and the court granted Rosneft's petition for an increase in the amount of claims from 106.6 billion rubles to 170.6 billion rubles.
The lawsuit filed by Rosneft and Bashneft against AFK Sistema for RUB 106.6 billion included RUB 57.2 billion for the loss of Sistema-Invest shares, 36.9 billion rubles for Bashneft's debt and 12.5 billion rubles for expenses , Incurred to redeem shares of the company from minority shareholders. At the same time, 36.9 billion rubles was transferred to Bashneft as a liability to Sistema-Invest before the NK. Another 12.5 billion rubles - the cost of compulsory redemption of shares from minority shareholders who disagree with the terms of the reorganization of Bashneft. These shares were redeemed at the direction of the AFC.
AFK Sistema believes that the lawsuit itself and its amount are unfounded. The official representative of AFK Sistema Sergei Kopytov earlier said that the previous amount of claims was absolutely unjustified. "A 170.6 billion - this is already from the field of unscientific fiction," - said Kopytov. According to him, "all documents relating to the reorganization of Bashneft, including the separation balance sheet, were prepared in full compliance with corporate procedures and the requirements of the current legislation."
Fake recall claim
On Tuesday, June 20, the Arbitration Court of Bashkiria filed a petition allegedly from Rosneft and Bashneft to waive the claim against Sistema in connection with the conclusion of a settlement agreement. The notice of registration of the application appeared on the website of the filing cabinet of arbitration cases. This led to a rapid growth in the value of shares of Sistema. A few minutes after the announcement, Rosneft denied the information about the refusal of the claim.
An application for the revocation of the claim of Rosneft and Bashneft to AFK Sistema, which has been submitted to the court, is a provocation and forgery, but the volume of transactions with Sistema shares against the background of this information amounted to 2 billion rubles, Rosneft "Igor Sechin.
However, he refused to say who could stand for forgery of the petition and sale of Sistema's shares. According to Sechin, AFK Sistema itself did not sell its securities at that time. "Generally speaking, she did not sell. And other people should find out the relationship, "he said. "We handed the materials to the law enforcement agencies on this matter," Sechin added. In turn, AFK Sistema asked the Central Bank to find out who was manipulating the company's shares at the time of the publication of the false document.