Russian authorities may sell stakes in ALROSA, VTB on MOEX 2016

KALININGRAD, May 12 (PRIME) – The government is likely to sell stakes in diamond mining giant ALROSA and VTB Bank to private investors on the Moscow Exchange in 2016, Economic Development Minister Alexei Ulyukayev told reporters on Thursday.

“I believe that both these assets, VTB and ALROSA, may be privatized this year. Secondly, I believe that it is these assets that are most likely to be sold through a public offering on the Moscow Exchange,” he said.

“And thirdly, I think that the stakes may be sold in several stages. So we can sell 10.9% at the first stage and some stake during the next one.”

Russian President Vladimir Putin has allowed the government to reduce state interest in ALROSA to 33.001% from the current 43.930% recently. The ministry earlier offered Sberbank CIB as a candidate to become ALROSA’s privatization agent.

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