Moscow-based Rosneft came in with the higher of two bids for Bashneft, according to Minister for Economic Development Alexei Ulyukayev.

The Ministry said in a statement issued in Russian that the transfer of a 50.0755% holding in Bashneft passed to Rosneft on Wednesday.

The statement indicated that Igor Sechin-led Rosneft has paid 329.69 billion roubles ($5.23 billion) for the shareholding. This is the amount referred to in reports