AK ALROSA intends to sell its 99.74% stake in Insurance Company IC ALROSA Ltd., PRIME reported. The corresponding decision was brought at the recent meeting of the company’s Supervisory Board.
Disposal of share in the insurer will be organized as an open bidding procedure, the diamond mining company explained.
Sale price will be set not lower than the current market value determined by an independent appraiser, according to materials of ALROSA.
The company is implementing a program of disposal non-core assets. In April 2013 it held an auction having sold 100% shares of CJSC "Gostinitsy ALROSA" for RUB 351.1 million.
ALROSA is the Russia's largest diamond miner, accounting for about 25% of the global diamond production and 97% of diamond production in Russia.
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