Sistema

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OJSC JFSC Sistema
Native name
АО АФК Система
Public (OAO)
Traded as
Industry Conglomerate
Founded 1993; 25 years ago (1993)
Headquarters Moscow, Russia
Key people
Products
Revenue $10.4 billion[1] (2016)
$1.19 billion[1] (2016)
$137 million[1] (2016)
Total assets $16.5 billion[1] (2016)
Total equity $3.24 billion[1] (2016)
Number of employees
70,000
Subsidiaries
Website www.sistema.com

Sistema is a large Russian conglomerate company, headed by Vladimir Yevtushenkov. In March 2006, Yevtushenkov controlled 62% of the shares in Sistema.[2]

Sistema has its headquarters in Moscow. The company's Global Depository Receipts (GDRs) are traded on the London Stock Exchange (ticker symbol LSESSA).

Structure[edit]

Sistema operates a number of consumer service businesses in the areas of:

Bashneft interest seizure and Rosneft lawsuit[edit]

In 2014, 72% of Sistema's interest in Bashneft was seized by the Russian government.[3][4]

On May 3, 2017, Sistema shares plunged about 37% following a $1.9 billion lawsuit filed by Rosneft.[5]

On 15 May 2017, the Arbitration Court of Bashkortostan registered a RUB 106.6bn claim filed by Rosneft and Bashneft against Sistema, a preliminary hearing of the case was scheduled for 6 June, Irina Nurislamova was appointed as a judge for the case.[6][7]

References[edit]

  1. ^ a b c d e http://www.sistema.com/fileadmin/user_upload/results_disclosure/2017/afk_sistema_fs2016_eng.pdf.
  2. ^ Source: http://www.sistema.com/section.html?s=143
  3. ^ Natasha Doff and Ksenia Galouchko (December 18, 2014). "Sistema Shares Soar as Putin Says Evtushenkov Charges Not Proven" (Bloomberg Business News). Bloomberg News. Retrieved December 27, 2014. Russia has seized 71.6 percent of OAO Bashneft from Sistema since ordering Evtushenkov’s arrest on Sept. 16 in a money-laundering investigation linked to the state’s sale of the oil company in the previous decade. 
  4. ^ Steven Lee Myersand Jo Becker (December 26, 2014). "Even Loyalty No Guarantee Against Putin". The New York Times. The Times Company. Retrieved December 27, 2014. Mr. Rakhimov’s government privatized Bashneft, with most of its shares ending up in the hands of a company called Bashkir Capital 
  5. ^ Reuters (2017-05-03). "Sistema shares plunge a third after $1.9 billion Rosneft lawsuit". Moscow. Retrieved 2017-05-04. 
  6. ^ Предварительное заседание суда по иску «Роснефти» к АФК «Система» назначено на 6 июня — Ведомости (in Russian)
  7. ^ «Система» не признала обвинения «Роснефти» (in Russian)

External links[edit]