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Russia Mulls Privatization of 11% ALROSA Stake: Report
Mar 2, 2016 1:49 AM
By Rapaport News
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RAPAPORT... Russia is considering
privatizing a 10.9-percent stake in ALROSA, press agency TASS reported February
29, citing the nation’s finance minister.
"We’ve
discussed the potential sale of a 10.9-percent stake so that the state,
including the constituent entity, could keep control of the company,"
Anton Siluanov was cited by the Russian news wire as saying.
In
early February, Economic Development Minister Alexey Ulyukayev named ALROSA among
companies that could be privatized, the report said, adding that the Federal
Property Management Agency also considers the miner ready for privatization.
Deputy
Minister of Economic Development Nikolay Podguzov told journalists Monday the
country was not ruling out privatizing a stake even greater than 10.9 percent
in 2017 to 2018, according to the report.
The
state owns 44 percent of ALROSA, with 25 percent held by the Republic of Sakha,
or Yakutia, and 8 percent by districts of Yakutia. A further 23 percent of shares
are in free float.
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Tags:
Alrosa, financial, mining, privatization, Rapaport News, Russia
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