Plans involving placement of 14% in share capital of AK ALROSA at MICEX-RTS remain in force, according to a statement made by First Vice Prime Minister Igor Shuvalov, who did not specify the exact dates of the above, Prime reports citing RIA Novosti.
“We still remain committed to privatization plans however preparation of this project is very complicated,” – Shuvalov noted within the scope of “Day of Russia 2012” at New York exchange.
“Due to the fact that a part of shares is owned by regional government, we shall be cautious and avoid any thoughtless steps,” – Shuvalov said, adding, that the main focus now is on working with consultants to secure proper corporate management and full transparency of documentation, to get prepared to privatization, including cooperation with potential investors. Meanwhile he said, that the final decision on the share in ALROSA to be put for sale to be taken and announced later.
Within the scope of privatization ALROSA was to place a total of 14% of its share capital at MICEX-RTS till the end of 2012. Meanwhile, the government anticipates disposal of all shares in ALROSA till 2016, however authorities of Republic Yakutia had repeatedly applied to the government with the request to retain a controlling stake in the diamond miner.
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