The court in Chelyabinsk upheld the nationalization of «Bashsoda»

The transfer of the company's shares to state ownership is recognized as legal

On March 1, 2021, a meeting of the Eighteenth Arbitration Court of Appeal was held on the transfer of 95% of the shares of Bashkir Soda Company JSC to the ownership of the Federal Property Management Agency. The decision is upheld.

The information is available in the file of the court files. The decision of the first instance - the Arbitration Court of Bashkortostan - was left unchanged, complaints about nationalization were not satisfied. The details of the decision of the appellate instance have not yet been published.

The Eighteenth Arbitration Court of Appeal in Chelyabinsk received 14 complaints about the nationalization of the Bashkir Soda Company. Among the applicants there are nine private individuals, LLC “Sanatorium-preventorium“ Olkhovka ”, LLC“ Bashkhimtrans ”, LLC Trading house“ Bashkirskaya Khimiya ”, JSC“ Bashkirskaya Khimiya ”, and JSC“ Bashkirskaya Soda Company ”.

Let us remind you that the General Prosecutor's Office of the Russian Federation demanded that the shares of the Bashkir Soda Company be transferred to federal ownership. At that time, 57.18% of them belonged to Bashkirskaya Khimiya JSC, 38.28% - to Regional Fund JSC (the ultimate beneficiary is the government of the Republic of Belarus), the remaining 4.5% of shares were held by minority shareholders. At first, the authorities of Bashkortostan opposed the revision of the privatization of the company, trying to keep their stake, but later changed their position.

At the beginning of December last year, the Bashkortostan Arbitration Court canceled the privatization of the Bashkir Soda Company at the suit of the Prosecutor General's Office of the Russian Federation. Rosimushchestvo transferred 95.72% of ordinary registered shares, which were previously owned by JSC Bashkirskaya Khimiya, JSC Regional Fund and LLC Trading House Bashkirskaya Khimiya.

By the end of 2020, BSK's revenue amounted to 48.3 billion rubles.

Source: https://pravdapfo.ru/

For reference:

The consumption of grade A soda ash by the glass industry in Russia is over 60%.