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Russia's Sistema Overtaking Assets in Petrochemicals

Sistema JSFC is the largest publicly-traded diversified holding company in Russia and the CIS. It is a major shareholder of companies serving over 100m customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Now the company is overtaking its petrochemical assets. On 1 October, 2013 Sistema announced that it has completed the acquisition of a 100% stake in Bashneft-Services Assets LLC ("BNSA") from Bashneft JSOC ("Bashneft") for a total cash consideration of RUR 4.1bn. Will Sistema be able to transform the company into one of the leading oil services providers in Russia?

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