Moscow-AFK Sistema, the large holding company that manages a wide range of businesses in Russia, said November 14 it has signed agreements to operate energy assets in the central Russian republic of Bashkortostan. Under the agreement with major shareholders of the assets, which include six crude production, refining and petrochemical companies, Sistema will operate the units for three years. The agreements also provide for joint efforts by Sistema, major shareholders and leadership of the energy units to improve the corporate management and transparency of the Bashkir oil complex, as well as raising their attractiveness to investors, Sistema said in a statement.
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