Russian, foreign banks interested in organizing sale of Sovcomflot

MOSCOW, May 5 (PRIME) -- Russian and foreign banks have submitted applications to participate in the selection of investment advisors for privatization of a stake in shipping company Sovcomflot, a representative of the Economic Development Ministry told PRIME on Thursday.

“Russian as well as foreign banks, have submitted applications,” the representative said.

He said that the ministry will hold the second stage of selection until May 20 and compare the requests.

After the thorough consideration, the ministry will file a proposal on investment advisors to the Russian government.

The government, which holds 100% in Sovcomflot, plans to sell up to 25% in the company.

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