Official: Govt continues work on Sovcomflot privatization

SOCHI, Feb 15 (PRIME) -- The Russian government continues work on long-awaited privatization of shipping company Sovcomflot, the Federal State Property Management Agency’s Director Dmitry Pristanskov told PRIME on Thursday on the sidelines of the Russian Investment Forum.

“Work (on Sovcomflot) privatization continues in any case. We did a lot of work on it last year. This is a difficult, complex, multifactorial deal, depends on the freight cost, seasonal, geopolitical, economic, and fundamental parameters. That’s why this year we will continue working. We are not selling only for the sake of a sale. Of course, terms are very important,” he said.

The government previously planned to sell 25% minus one share in Sovcomflot in 2017.

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