Industry News by Nemesis

Vekselberg May Take Part in ALROSA Privatization

February 15, 2016

Viktor Vekselberg, a billionaire and the main owner of the Renova group, said he may consider the participation in the privatization of Russian state companies, including ALROSA. 


"The question, of course, is the price," - said Vekselberg to reporters, responding to a question whether he is interested in asset privatization.


The Russian government's economic plans for 2016 include the possible privatization of several state companies, the list of which has not been determined yet. At a meeting on February 1,


Russian President Vladimir Putin instructed the government to finalize the list of companies that can be privatized. The meeting of top managers of state-controlled companies and banks was attended by the heads of Rosneft, Sovcomflot, Aeroflot, VTB, Bashneft, ALROSA and the Russian Railways.


"Certainly, (we do not plan to acquire) oil sector companies, and we will look carefully at all the rest. ALROSA, yes. We have traditionally been interested in this part of the mining sector, so we'll take a closer look," – Vekselberg said. 


Speaking about the current market prices for Russian assets, he noted that "they look quite reasonable."


"The question is, what package will be sold, under what conditions and what the situation in the company in terms of medium-term prospects will be like. This is the set of factors that will determine the degree of our interest in the assets," – Vekselberg added. 


Source: Rough&Polished

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