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Published
May 27, 2016
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Russia's Alrosa to hold US, UK investor meetings ahead of stake sale

By
Reuters
Published
May 27, 2016

Russian diamond miner Alrosa will hold investor meetings in the United States and the United Kingdom in June ahead of a stake sale, a Sberbank executive said on Friday.


Russian Prime Minister Vladimir Putin (6th from right) visiting the Mir underground mone in 2009 - Alrosa


The Russian government aims to make more than 60 billion roubles ($909 million) from selling a 10.9 percent stake in Alrosa, with the sale taking place on the Moscow Exchange this year.

The US and UK meetings were "to invite a wide range of those who are interested in (privatisation)", Sberbank First Deputy Chairman Maxim Poletayev told reporters.

State-controlled lenders Sberbank and VTB are among the organizers of the investors' meetings.

Russia plans a major privatisation push this year in a move to stop the budget deficit expanding beyond the target level of 3 percent of gross domestic product.

$1 = 66.0304 roubles

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