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. Last Updated: 07/27/2016

Sistema to Redeem VTB Loan

Sistema may redeem a $2 billion VTB loan by the end of 2009, subject to the successful sale of oil refineries to Bashneft, Sistema chief Leonid Melamed said Tuesday.

Bashneft also aims to double its oil output to match its refining capacity, he said without giving a time frame.

(Bloomberg)