Russia may privatize Sovcomflot in parts in Moscow, New York

ISTANBUL, Oct 10 (PRIME) -- VTB Capital, an investment advisor on privatization of the government’s 25% stake in Russian shipping company Sovcomflot, has submitted a report to the Economic Development Ministry in which it said that the stake may be sold in 2017 in parts on the Moscow and New York stock exchanges, Minister Alexei Ulyukayev told reporters Monday.

“Sovcomflot (privatization) may happen in 2017. We are not studying Asian bourses. We are studying Moscow and New York. We will do it either in Moscow, or on both exchanges,” he said.

It is unlikely that Sovcomflot will be sold to a strategic investor. “No decision has been made so far, but I think that we will not sell it to a strategic investor,” he added.

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