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Russian economy minister urges to speed up work on privatization of state assets

The minister says after the sale of shares of Bashneft the next assets for privatization are Sovcomflot, VTB and Rosneft

MOSCOW, July 26. /TASS/. Russia’s Federal Property Management Agency should speed up its work on the regulatory framework of the privatization activities, Economic Development Minister Alexei Ulyukayev said at a meeting of the agency.

"It is necessary to speed up, to take relevant decision. You should intensively work with consultants, attract legal persons and organizations to privatization procedures," he said.

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The minister noted Russia’s Federal Property Management Agency is intensively working on the privatization of Bashneft, the consultants have proposed a good transaction structure.

"Now we are intensively working on the Bashneft company. The investment consultant is helping us define a well-worked transaction structure," he said.

Lukoil confirmed its interest in participating in privatization of state-owned stake in Bashneft, a representative of the company told TASS.

"Lukoil notified VTB Capital and Sberbank CIB about the interest in participating in privatization of state-owned stake in Bashneft," the company said.

The minister added that after the sale of shares of Bashneft the next assets for privatization are Sovcomflot, VTB and Rosneft.

"Then we have such assets as Sovcomflot, VTB and, of course, Rosneft, one of the leading companies in the energy market," the minister said.

A source said Russian state-owned oil company Rosneft has filed an application to participate in the privatization of Bashneft.

"Rosneft has really filed an application for Bashneft," the source said.

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