Tatarstan could sell 4.3% of Tatneft, 22% of NKNK in 2016
MOSCOW. Feb 9 (Interfax) - The government of the internal Russian republic of Tatarstan has included stakes of 4.31% in oil company Tatneft and 22.088% in petrochemicals company Nizhnekamskneftekhim PJSC (NKNK) in the indicative 2016 privatization plan.
The plan also includes the republic's whole 9% stake in the Taneco oil refinery, says a Tatarstan government resolution.
The government of Tatarstan previously included 6.31% of Ak Bars Bank ; and 4.67% of defense company OPK Oboronprom, in which it holds a 14.57% stake, in its forecast privatization plan for 2016.
The plan, which lists shares in 12 companies, also includes 0.196% of common and 0.00017% of preferred shares in Nizhnekamskshina that were not sold last year. Tatarstan also holds a golden share in the tire manufacturer.
"Taking into account the priorities of the Republic of Tatarstan's economic development, the main objectives of government policy in the area of privatization of the republic's state property in 2016 are to attract investment into manufacturing and innovation entities, optimize the composition and structure of government property and generate revenues for the republic's budget," the government said in an earlier resolution on the 2016 plan, issued in December.
The shares are to be privatized by selling them at public auctions or by contributing them to the charter capital of joint-stock companies.
The Tatarstan Land and Property Ministry told Interfax that currently the issue of privatization, which is included on the list of assets "that are under discussion by the republic's government and these organizations."
In its turn, the state-owned Svyazinvestneftekhim noted that "the inclusion of PJSC Tatneft, Taneco and JSC Nizhnekamskneftekhim on the list of companies, the shares of which are planned to be privatized this year, it is not necessary to directly identify this with privatization or sales." At the same time, "Svyazinvestneftekhim does not exclude such a possibility, but in any case this is an issue of the future, therefore to speak about some concrete details is early for now," the companies told Interfax.
The market value of the Nizhnekamskneftekhim share package that was put on sale, based on the capitalization of the company on the Moscow Exchange , amounts to 16.9 billion rubles, of Tatneft - 31 billion rubles.
The republic, via OJSC Svyazinvestneftekhim OAO (SINEK) , owns 28.6% (25.2% voting shares of NKNK, 33.595% of Tatneft and 9% of Taneco.