Bashneft closed the deal on the sale of 38.46 percent of Belkamneft for $200 million, says Vedomosti.

      The stake was bought by a group of investors, says the company.

      The sale took place as part of Bashneft’s bid to optimize its portfolio of financial investment, according to an official press release quoted by Vedomosti.

      Bashneft is one of the major oil producing companies in Russia.

      The majority owner of Belkamneft is Mikhail Guzeriev, who also controls Russneft, another oil company.