Russia expects to sell 25% stake in SCF for RUB 25-27 bn
The Russian government expects to receive for a 25-percent stake (minus one share) in Sovcomflot (SCF Group) some RUB 25-27 billion, the governmental press service said quoting the Minister of Economic Development.
Andrei Belousov Minister of Economic Development said at the Cabinet meeting that the long-term plans for privatization of the shares of the largest companies until 2016 include complete pull out of the state from shareholders of SCF Group.
St.Petersburg-headquartered Sovcomflot (SCF Group), the biggest shipping company in Russia, ranks the fifth top tanker company in the world. The Company specializes in global transportation of crude oil, petroleum products and other energy sources. The Group's fleet comprises 157 vessels of total deadweight of nearly 12 million tons, the average age of the tanker fleet is 6.6 years. The Group has offices in Moscow, Novorossiysk, Murmansk, Vladivostok, London, Limassol, Madrid and Singapore