Russian privatisation programme: The state-run Bashneft (oil) and Sovcomflot (shipping) companies could be put up for sale by the end of the year, Russia’s First Deputy Prime Minister Igor Shuvalov said yesterday.
The announcement came on the same day that the Russian government pocketed $816m for the sale of its 10.9% stake in Alrosa, the world’s largest diamond miner.
According to VTB Capital director Boris Kvasov, 35% of the shares were bought by the Russian Direct Investment Fund, with European investors purchasing a similar amount and a combination of Asian and Middle Eastern buyers snapping up 25% of the remainder. Purchases by US investors only accounted for 5%.
Source: The Moscow Times