Moscow Times April 1, 2014
The Cabinet approved a plan to privatize an additional 431 companies through 2016, according to a document published on the government’s website Monday.
About 20 percent of Novorossiysk Commercial Sea Port, the Russian Lottery, and multiple scientific-research, construction, and agricultural facilities are up for sale, in addition to regional airports, shipping companies and metallurgy businesses.
The Novorossiysk Commercial Sea Port is one of the more valuable assets the state has put up for sale. The sea port operator is publicly traded in London and Moscow and it reported $316 million in profit for 2012.
Igor Sechin, president of oil company Rosneft, said in December that the company was prepared to buy the state’s 20 percent stake at its market price. Based on its Monday market capitalization of $2.4 billion on the London Stock Exchange, a 20 percent stake would be worth $480 million.
The state also plans to sale small stakes in several banks, including market leader Sberbank, and major banks UralSib, MDM, and Svyaznoy.
Read more…