Minority investors may take part in Russia’s Rosneft privatization

ATHENS, May 27 (PRIME) -- The Russian government may sell a 19.5% stake in oil major Rosneft to strategic and minority investors, Energy Minister Alexander Novak told reporters on Friday.

“I believe that strategic investors may buy, and some stake may be sold to minority investors. But it is premature to discuss it nowadays, as consultants have not made final proposals,” Novak said.

The most important thing for the state is to earn as much money from selling a stake in Rosneft as possible, the minister said.

On Thursday, Finance Minister Anton Siluanov said that the privatization of the oil producer is still scheduled for July–December.

On Tuesday, Economic Development Minister Ulyukayev said the cost of a 19.5% stake in the company had exceeded 700 billion rubles, and it would be difficult to limit Russia’s budget deficit at 3% of gross domestic product (GDP) in 2016 without the sale of the stake.

(65.2062 rubles – U.S. $1)

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