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Privatization of three major assets by year-end to be success — Russian Economy Minister

Privatization might be called successful this year if three assets out of all planned ones are managed to be sold, says Russia’s Minister of Economic Development

BRATISLAVA, May 24. /TASS/. Privatization might be called successful this year if three assets out of all planned ones are managed to be sold, Russia’s Minister of Economic Development Alexey Ulyukayev said on Tuesday.

"I would like that we managed to sell at least one asset in the first half of the year. I would consider [divestment] of three assets by year-end as the success," the Minister said.

"It seems to me Alrosa has good chances," Ulyukayev said responding to the question regarding assets that may be sold in the first half of 2016.

Alrosa’s shares will be offered on the Moscow Exchange but other share packages of the company may be sold in future on foreign exchanges, the minister added, new equity stakes in Alrosa may be sold on foreign bourses in future, Alrosa’s 10.9% stake may be privatized by end of 1H 2015.

Ulyukayev did not detail the three assets in question. "I simply understand this is a challenging process and a risk is always present that something may fail because of specific reasons. I believe that three [assets privatized] will be a successful result," he added.

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