Russian govt mandates Alfa Bank to sell state stake in Mosenergostroy
MOSCOW. July 19 (Interfax) - The Russian government has appointed Alfa Bank to sell the state's stake of 25.5% (34% of votes) in OJSC Mosenergostroy Construction and Industrial Company, according to an order signed by Prime Minister Dmitry Medvedev on July 13.
The bank is supposed to present a report on potential buyers and their offers to the Economic Development Ministry and Federal Property Agency.
Mosenergostroy was removed from the list of strategic companies in 2010.
The company was created to build and overhaul power and engineering infrastructure, as well as housing and social infrastructure. According to its website, over the past ten years the company has shifted its focus to residential construction due to a lack of orders for construction of power infrastructure.
Mosenergostroy has charter capital of 59.682 million rubles, split into 44,761,500 common and 14,920,500 preferred shares with par value of 1 ruble each.
The company closed 2011 with a net profit of 3 million rubles on revenue of 1.46 billion rubles. Mosenergostroy's revenues have been steadily declining since 2008, according to the SPARK-Interfax database.
The company's other shareholders are private individuals.