The Federal Antimonopoly Service (FAS) of Russia has announced 2 months extension for the term of consideration of application filed by OJSC Almazy Anabara (a subsidiary of OJSC AK ALROSA) to acquire 100% of share capital in OJSC Nizhne-Lenskoye, the agency said in a statement cited by Prime news agency.
FAS resolved that the documents accompanying the application of OJSC Almazy Anabara were not sufficient to bring a decision. Due to this fact FAS inquired some additional details from Nizhne-Lenskoye.
OJSC Nizhne-Lenskoye is involved in diamond mining activities on the territory of Eastern Siberia (in Republic Yakutia) and accounts for approximately 4% of the total Russian diamond output. Government of Republic Yakutia, acting by Ministry of Property Relations, owns 100% shares in the company. Previously the government used to announce its intention to privatize Nizhne-Lenskoye.
“ALROSA is interested in expansion of its resource base and, reasonably, takes an interest in Nizhne-Lenskoye. We applied to FAS in advance, in order to be prepared to participate in prospective acquisition of the asset should it be offered for sale,” – a representative of ALROSA noted.
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