Igor Sechin assesses the value of Rosneft's govt share stake sale

The President of Rosneft, Igor Sechin has named the desired price of 19.5% of its shares, which the Government wants to privatize before 2016. According to his assessment, investors will have to pay at least $8.12 per share: at the end of 2012, BP entered in the capital of Rosneft at this price. Then the privatized package will cost an investor not less than $16.7 billion, but yesterday its market value was only $11.3 billion.

19.5% of Rosneft’s shares must be privatized at the price of not less than $8.12 per share - "the same as other shareholders paid by the reference transaction," said president of the company Igor Sechin yesterday. According to him, the price may be more: "The ceiling is not limited, because it is the price of the transaction reference for long-term investors". Mr. Sechin himself (he owns nearly 0.13% of the Rosneft’s shares) is not going to increase his package in the near future. "For a while, I have no extra money,” - he said.

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