Minister says Russia likely to privatize only Sovcomflot in 2018

MOSCOW, Jun 27 (PRIME) -- The Russian government plans to privatize only shipping company Sovcomflot in 2018, Economic Development Minister Maxim Oreshkin told reporters on Wednesday.

“I don’t think that anything else (will be privatized) this year but we shall see what options for development of various assets we have since we see privatization as a strategy of asset development, of understanding how these assets can benefit the government most in the future rather than just their sale,” Oreshkin said.

The government planned to sell a 25% minus one share stake in Sovcomflot in 2017 but postponed the deal to 2018.

According to Oreshkin, preparation for privatization of Sovcomflot has seen a big progress lately.

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