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Russian Direct Investment Fund may participate in privatization of Alrosa

June 23, 2016, 20:26 UTC+3 BEIJING
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BEIJING, June 23. /TASS/. The Russian Direct Investment Fund (RDIF) will participate in privatization of diamond producer Alrosa, head of RDIF Kirill Dmitriev told reporters adding that many foreign investors are interested in joint participation in this transaction.

"We are discussing it and they are interested and their interest is quite serious. We are more likely to take part in it (privatization of Alrosa - TASS) with our partners. There are partners from many countries we interact with," he said. He did not name any particular investors.

Earlier, Deputy Finance Minister Alexey Moiseev said that the Finance Ministry plans to raise more than 50 bln rubles ($783 mln) from the sale of 10.9% shares of Alrosa. The ministry plans to sell the package on the Moscow Exchange.

The shareholders of Alrosa" are the Russian Federation (44%), the Republic of Sakha (Yakutia) (25%), districts of Yakutia (8%), while 23% of shares are in free float.

Alrosa is engaged in the exploration, extraction, production and sale of diamonds. It produces diamonds in the Republic of Sakha (Yakutia) and the Arkhangelsk region.

In 2015, Alrosa produced 38.3 million carats of diamonds, sales totaled 30 million carats. Revenues from the sale of diamonds in the past year are estimated at approximately $3.4 billion. In 2016, the company plans to produce from 37 million to 39 million carats.

Earlier Russian Finance Minister Anton Siluanov said that the sale of shares of Alrosa may take place in summer of 2016.

In January, President Vladimir Putin announced the government’s plans to sell its stakes in Rosneft, Bashneft, VTB, Alrosa and Sovcomflot in 2016.

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