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Russia may privatize Sovkomlot, Aeroflot by yearend

July 30, 2014, 19:26 UTC+3 MOSCOW
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MOSCOW, July 30. /ITAR-TASS/. The Russian government said on Wednesday it might sell Sovkomlot and Aeroflot before the end of the current year.

“We can see a window of opportunity for Sovkomflot and Aeroflot [this autumn],” Olga Dergunova, head of the Federal Agency for the Federal Property, said.

Vitaly Sergeichuk, head of the Agency’s department of property relations and major privatisation transactions, said the sale of Aeroflot shares could be postponed if the price offered on the market was low.

The Agency is hoping to receive 200-300 million U.S. dollars from selling 8-9% of Aeroflot shares.

Speaking of Sovkomflot, he said the market had improved considerably from the previous three years, which creates conditions for selling the government’s share in the company before the end of the year.

The government is planning to sell 25% minus one share of Sovkomflot and reduce its interest in the company to 25% plus 1 share by 2016.

Dergunova said earlier this year that the company was “in a high degree of readiness” for privatization and the government only had to decide on the form of sale.

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