Opportunity to privatize 25% of Sovcomflot may appear in Nov-Dec - state property agency
MOSCOW. July 30 (Interfax) - A window for sale of a 25% state stake in Sovcomflot may open up in November-December 2014, state property agency Rosimushchestvo's head of property relations and major organization privatizations, Vitaly Sergeichuk, told journalists.
"Once again, the question of whether it's worthwhile or not will be decided at the time the decision on the sale is made. Today there is no such opportunity, for obvious reasons and the obvious condition of the market. In November-December such an opportunity may arise. For that reason, the goal is to be prepared for that window, and to make a realistic decision," he said.
Rosimushchestvo sees signs a deal could be organized. "Again, the company's task and ours is to prepare the necessary corporate decisions and the necessary documentation in order have the ability to tap the market," Sergeichuk said.
Corporate decisions from the standpoint of the supplementary share issue have been made by Rosimushchestvo and work at the company is underway, he said.
"We are saying that we need to be ready by November-December. The company is unique and so is the market," Rosimushchestvo chief Olga Dergunova said.