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Minister: Evaluation of state stake in Rosneft at $11 bln close to reality

September 02, 16:16 UTC+3
Rosneft privatization deal for a 19.5% state stake might be carried out in any months starting from October
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VLADIVOSTOK, September 2. /TASS/. Evaluation of state-owned stake in Rosneft at $11 bln is close to reality, Economic Development Minister Alexei Ulyukayev told journalists on Friday.

"It is close to reality," the minister said, commenting on the information about investment consultant evaluated state stake in Rosneft at $11 bln.

Rosneft privatization deal for a 19.5% state stake might be carried out in any months starting from October, Ulyukayev said.

"Together with the consultant we will be ready to conduct privatization deal of Rosneft starting from October. And then it comes to the government’s decision," he said.

"There are always risks, for any asset. I still believe that we have every opportunity to hold privatization of Rosneft. We will do our best to hold it this year. I believe that the probability of this is over 50%, but the risks certainly exist," he said.

A Ministry of Economic Development representative said earlier that Rosneftegaz should have presented recommendations for Rosneft privatization deal.

It was reported earlier that Russia was going to sell a 19.5% stake in Rosneft to institutions in China and India for $11 bln. Later media reported that the investment consultant - Italian bank Intesa - has also evaluated the state share in Rosneft for $11 bln.

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