The government has approved a privatization plan for 2017-2019

The government has approved a privatization plan for 2017-2019

MOSCOW, 15 Feb — RIA Novosti. The Russian government has approved a privatization plan for 2017-2019 years, involving among other things the reduction of state shares in companies with a leading position in their respective sectors of the economy, including VTB, Sovcomflot and ALROSA, the document was published on the website of the Cabinet.

“The plan envisages privatization in 2017-2019 years of the federally owned shares of joint stock companies 477, 298 Federal state unitary enterprises, shares of participation of the Russian Federation in ten limited liability companies, more than one thousand objects of other property of the state Treasury,” — said in reference to the order on the website of the Cabinet.

Revenues during this time will be 5.6 billion annually, excluding the cost of the shares of the companies-leaders

In particular, it is planned to reduce the state’s share in to ALROSA to 29% plus one share in Sovkomflot, up to 25% plus one share in VTB 25% plus one share of total number of shares of common stock. The document also States that the reduction in the share in VTB below 50% plus one share will be coordinated with the reduction of the participation of the Central Bank in Sberbank.

In early July 2016 in the framework of privatization, has published a 10.9% stake in ALROSA. Pack of 802,781 million shares were sold to approximately 52,2 billion rubles (65 rubles per share). The transaction generated significant interest and attracted a wide range of investors, including foreign ones. As a result of the privatization of the state share in the miner fell to 33%, another 25% plus one share owned by the Republic of Yakutia, 8% — eight uluses (districts) of the Republic. Free float 34% stake in the company.

In the future, does not exclude the possibility of privatization of an additional 8% of shares of “ALROSA” already in 2017. However, as we said in December, the head of Rosimuschestvo Dmitry Pristanskov, this question is still open and will be discussed in the government.