Industry News by Nemesis

Russia’s Deputy Prime Minister Says There Are No Plans to Merge ALROSA and Kristall

February 5, 2018

Yury Trutnev, Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District, who oversees ALROSA, Russia’s diamond monopoly, said in an interview with RBC that there were no discussions regarding the company’s additional share placement this year. He added that a merger of ALROSA with Kristall, the largest Russian diamond manufacturer, was not expected either. "Such plans are not being discussed," he said.


Currently, the Federal Property Management Agency of the Russian Federation owns a 33-percent stake in ALROSA, while Yakutia holds another 25% plus one share and its uluses (municipalities) have an 8-percent shareholding in the company. Around 34% of ALROSA stock is in free float.

 

Source: Rough-Polished

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