Russia's Federal Antimonopoly Service granted the application of Neft Aktiv LLC for the purchase of a 100% equity stake in OVIT LLC, the regulatory body informed.
The transaction applied for will not restrict competition, the competition authority points out.
OVIT LLC (Moscow) is principally engaged in the development of deposits, mining operations as provided for by the laws of the Russian Federation; also, the company refines oil and sells petroleum products.
Neft Aktiv LLC is part of the Rosneft group of companies.
Rosneft Oil Company (tax number: 7706107510) is the largest oil company and largest tax payer in the Russian Federation. In 2013, Rosneft's proved SEC compliant reserves increased by 11.5% to 33.014 billion boe. The company increased daily production of hydrocarbons by 80% to 4.873 million barrels.
The company's authorized capital is RUB 105.981 million. This amount is represented by 10,598,177,810 common shares at par value of RUB 0.01. The company's largest shareholder is state-owned company Rosneftegaz.
IFRS net profit of Rosneft Oil Company for H1 2014 grew by 89.8% year-on-year to RUB 260 billion from RUB 172 billion. Sales revenue grew by 41.3% to RUB 2.81 trillion from RUB 1.988 trillion, EBITDA increased by 59.8% to RUB 593 billion from RUB 371 billion.
According to the DataCapital information retrieval system, RAS net profit of Rosneft Oil Company in H1 2014 was RUB 54.829 billion against a loss of RUB 5.268 billion the year before. Revenue increased by 53% to RUB 2.217 trillion from RUB 1.446 trillion, GP by 53% to RUB 996.343 billion from RUB 649.653 billion.