Sands: the question of restricting access to privatization for foreign investors is not

MOSCOW, 2 February. Speech on restriction of access to privatization for foreign investors has declared to journalists the President’s press Secretary Dmitry Peskov.

“We appreciate our cooperation”

Answering the question is open to foreign investors privatization of state assets in Russia after Vladimir Putin’s statement that this sale should be allowed only company in the Russian jurisdiction, Peskov said: “of Course. Russia has always been interested in foreign investors. We value our partnership with those who continued to work on the Russian market. We are interested in new investments”.

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Peskov stressed that the closure of access of foreign investors to the privatization of state assets of the Russian Federation “nobody said, and this is absolutely impossible, Russia was and remains a country open to foreign investment, and Russia is interested in acquiring new partners.” While the President’s press Secretary reminded the words of Putin that such transactions should not be conducted through an offshore scheme.

He also did not rule out the privatization transactions by selling to a strategic investor and the exchange. “Of course, there are different brand of modality. They will be determined, and the proportions of these modalities will be determined. Of course, all this could be done at yesterday’s meeting”, – said the press Secretary of the Russian President.

The list will be finalized

Final decisions on list of companies for privatization in 2016 are not accepted, the government entrusted with its finalization, also said Sands.

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“The final decision was not taken, a particular company or shares of these companies were not identified – said the representative of the Kremlin. After criteria were identified, then the President instructed the government to finalize the list in order again in more concrete terms could be in a particular format to gather with participation of heads of state”.

Peskov explained that the meeting Monday with the President, “had the aim to finalize a list of enterprises to be privatized in 2016-2017 and in some even year.” According to him, the participants of the meeting, “said the major conceptual aspects, i.e. the basic framework of privatization”.

“There’s nowhere to wait”

The current economy crisis is pushing the government to hold a major privatization transactions. You will need to hold them as transparently and effectively in a falling market, said earlier the Minister of economic development of Russia Alexei Ulyukayev.

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“In 2014-2015 the market fell and continued to fall, we waited for the situation to change. Now is the realization that there is nowhere else to wait. The budgetary situation is very critical, the overall turbulence in the financial markets does not give reason to expect a rebound, the recovery. Now the challenge is to spend no less quality, efficient and transparent transactions at extremely unfavorable market,” he said.

The speaker noted that several years ago the authorities learned very efficiently, effectively and transparently to conduct privatization procedures in a growing market. In 2011-2013 took place “brilliant by world standards deal”, the Minister said.

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