Putin approved the transfer of the Bashkir Soda Company under the control of Bashkiria

Russian President Vladimir Putin signed a decree on the transfer of a block of shares in the Bashkir Soda Company (BSK) to Bashkiria. 38.3% of the company will be transferred to the ownership of the republic and 11.7% of the shares owned by the state – to the management of the Ufa JSC Regional Fund, established by the Ministry of Land and Property Relations of Bashkortostan.

The decree also secures the status of a strategic enterprise for BSK. The government will have to transfer 38.3% of the company to Bashkortostan within three months, as well as conclude a shareholder agreement between the Russian Federation and Bashkortostan. Decisions are made “in order to develop the chemical industry”, it is stated in the document.

The plan to return control over the BSK to Bashkiria was announced by Mr Putin at the end of March. “As a matter of fact, this is what Bashkiria had,” he said at a meeting with members of the Cabinet.

The decision to de-privatize almost 96% of BSK shares came into force on March 1. The question of the withdrawal of the BSC from the previous shareholders (57.18% belonged to Bashhim) arose after the company began to develop the shikhan Kushtau, which led to a protest of activists.

About the transfer of control to Bashkiria – in the material “Kommersant-Ufa” “Shares of unprecedented generosity”.

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