Russian Gov’t OKs amendments to privatization program
The Russian government has approved amendments to the privatization program, the government’s press office said.
The program means complete or partial privatization by 2016 of major joint stock companies, such as SCF Group, Sberbank of Russia, VTB Bank, United Grain Company, Rosagroleasing, RUSNANO, Russian Railways. The list also includes the largest energy generating and oil companies, industrial corporations, including Rosnef, which must be removed from the government direct control.
Currently, the state owns a 75-percent stake in VTB, a 100-percent stake in Agricultural Bank, 99.9% of shares in Rosagroleasing, 100% in SCF Group, Sheremetyevo International Airport (83%), Aeroflot (51%), United Grain Company (100% stake), Alrosa", RusHydro, Rosneft.
Until 2016, the government plans to reduce its share to a 75% stake (plus one share) in Russian Railways (RZD), Federal Grid Company of Unified Energy System and Transneft, a reduction to a 50% (plus one share) stake in companies such as USC (United Shipbuilding Corporation), Uralvagonzavod, etc.