Russia’s ALROSA CEO says 2017 privatization unreasonable

DAVOS, Jan 17 (PRIME) -- The shareholder structure of Russian diamond giant ALROSA is well balanced precluding any need of further privatization, CEO Andrei Zharkov told PRIME on Wednesday.

“As a manager I do not see any reason for privatization. To my mind, equity capital is well-balanced now and services a triumvirate of interests – there is the state, the region and independent private investors,” Zharkov said.

In July 2016, ALROSA sold a 10.9% stake with 52.181 billion rubles under the privatization program, which reduced the state’s shareholding to 33%. Another 25% plus one share is owned by the republic of Yakutia, 8% belongs to eights districts of the republic, and 34% are traded on the open market.

(59.6067 rubles – U.S. $1)

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