Rosimuschestvo is preparing for privatization of up to 18.9% of Alrosa

​Rosimuschestvo has initiated the preparation for the privatization of up to 18.9% of Alrosa in 2016, a source in the financial-economic block of the Government said referring to the letter of the head of the agency, O. Dergunova, to the PM D. Medvedev.

This is a maximum volume of the package, the sale of which allows the Government and Yakutia to keep the control over Alrosa – 50% plus 1 share. Such condition is stipulated in the shareholders agreement of Alrosa signed in late 2013 after the company’s IPO. Now Rosimuschestvo holds 43.9% of Alrosa, Yakutia – 25% plus 1 share. Yakutia doesn’t consider the privatization. Another 8% belong to the municipal districts of Yakutia, their carve-out is impossible by the republic’s law.

Until now the package of shares of Alrosa to be privatized hasn’t been officially released unlike that of VTB (up to 10.9%) and Bashneft (25%).

The privatization of Alrosa, VTB and Bashneft was considered at the meeting of the President on February 1st. on the results of the meeting Rosimuschestvo started to prepare the suggestions on privatization deals. Preparatory measures by them, not dependent on the decisions by the structure of deals, need to be held in Q1, is said in the letter of O. Dergunova. In particular, changes will be needed into the President order “On the approval of a list of strategic enterprises and JSC”.