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Final decision to privatize 14 pct of the Russian diamond producer ALROSA to be made by June 25

Otherwise the procedure to formalize the transaction may be upset

Photo ITAR-TASS

Photo ITAR-TASS

SOCHI, May 16 (Itar-Tass) - A final decision to privatize a 14-percent stake in the Russian diamond producer ALROSA is to be made no later than June 25. Otherwise the procedure to formalize the transaction may be upset, the company’s CEO Fyodor Andreyev said after a working meeting with Russian President Vladimir Putin on Thursday.

“We have set June 25 as the deadline,” Andreyev said. “If we really wish to finalize this transaction this year and to establish proper cooperation with the investors, the company will need a government resolution. Otherwise, if the decision is made in August or September, the transaction will be messed up and we will have no time to cooperate with the investors well enough.”

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