Ulyukaev: privatization of shares in large companies will take place through sale in the market

Ulyukaev: privatization of shares in large companies will take place through sale in the market

NAIROBI, December 18. The privatization of stakes in major companies in most cases will likely be through the sale of shares in the open market, but other options are possible, told journalists the Minister of economic development Alexei Ulyukayev.

“It is important to obtain a decision in principle”

“Methods of privatization and possible through the sale of shares in the market, and sale to strategic investors. In this case it is important to get a decision in principle (authorities – approx. ed.). Most likely, in most cases, this will be a sale of shares on the open market. But I don’t want to close the possibility of no options,” he said.

See also

“Don’t shoot reserves”: Putin did not rule out the privatization of shares of “Rosneft” and “Aeroflot”

Earlier Russian President Vladimir Putin, speaking at a press conference, did not rule out that in 2016 the government will privatize stakes in major state-owned companies.

The speaker stressed that the privatization of stakes in major companies need to consider two things.

“There are things associated with the willingness of companies, and it is clear that readiness is primarily in public companies that are traded in the market. That is the “Rosneft” and “Aeroflot” and a number of others. This is one side of the case,” he said.

The second point – “how feasible privatization based on the fiscal situation and on the basis of the share that the companies take in the market, the need to reduce state involvement in the economy.”

“We will compare both circumstance. Of course, the more likely it is that public companies that are prepared in advance through corporate privatization procedure, you will get in this number”, he said.

According to the speaker, we are talking about Rosneft, Aeroflot, Sovcomflot, ALROSA and a number of companies.

See also

The government will accelerate the privatization of “Rosneft” and “Aeroflot” at the request of the President

In November, the head of Rosimushchestvo Olga Dergunova said that the Ministry is ready to accelerate the privatization of “Rosneft”, “Aeroflot” and “RusHydro”, if you will be given appropriate instructions of the President. Then she explained that at the meeting with first Deputy Prime Minister Igor Shuvalov, the Ministry was encouraged to consider the possibility of accelerating the sale of large assets. According to her in the class of assets ready for privatization include public companies such as Rosneft, RusHydro, ALROSA and Aeroflot.

Dergunova said that the forecast for 2016 year while the government proceeds from privatization of shares of only one major state – owned Sovkomflot. The proceeds from the sale of this package can make 12 billion roubles. In addition, the government expects revenues from the mass privatization in the amount of 5.4 billion rubles.