Russian President Vladimir Putin has signed a decree on the transfer of a stake in Bashkir Soda Company (BSC) to Bashkortostan. The corresponding document was published on the official website of legal information.

"In order to develop the chemical industry, I decree: accept the proposals of the government of the Russian Federation and the head of the Republic of Bashkortostan to transfer 38.3% of ordinary shares (634,174 pcs.) of the joint-stock company Bashkir Soda Company (Sterlitamak, Republic of Bashkortostan) into the ownership of the Republic of Bashkortostan," the document states.

The Regional Fund will transfer 11.7 percent, or 194,151 common shares, into the trust management of the joint-stock company without holding a tender.

In addition, the document provides for the inclusion of BSC in the list of strategic companies and strategic joint stock companies.

According to the presidential decree, the shareholder agreement between the Russian Federation and the Republic is to be signed within three months.

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Karina Kamalova