Siluanov named possible period of privatization of Rosneft’s package

​The Minister of Finance, A. Siluanov, named possible period of the deal on the privatization of 19.5% of Rosneft’s shares. It might happen in H2 2016.

The Government of Russia assessed the value of the package of Rosneft at about $9.8 bln. Rosneft’s shares will become the most expensive Government asset which is planned to be privatized in 2016. The privatization deal will allow to fill the Russian budget on the background of the weak environment in the raw materials market. The holder of the package is Rosneftegas.

V. Putin said that the Government would look for a strategic long-term partner and investor that realizes and is sure that it is necessary to pay the actual value at the purchase of 19% of Rosneft’s shares.

Mr. Siluanov said that “a greedy investor can’t participate in the privatization”. He said that the Government of Russia can consider all applications.

White & Case is the legal consultant of this deal. The investment consultant hasn’t been found as yet or this information is not released.