AEROFLOT STAKE PUT UP FOR SALE BY RUSSIAN GOVERNMENT

Dino D'Amore
By Dino D'Amore July 1, 2011 12:02

AEROFLOT STAKE PUT UP FOR SALE BY RUSSIAN GOVERNMENT

Russian vice premier and finance minister Alexei Kudrin has confirmed that the government’s 51% stake in Aeroflot has been put on the extended list of strategically important enterprises scheduled for privatisation.

“Over the next three to five years, the state should cease to be a controlling shareholder in such companies. In the transportation sector, this will, first of all, concern Aeroflot,” said Kudrin.

“The aim is to improve corporate governance, encourage private investment in developing key industries and raise up to $30 billion from selling state assets.”

The value of the 51% stake is estimated at Rb38 billion ($1.3 billion).

Dino D'Amore
By Dino D'Amore July 1, 2011 12:02
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