Russian News Agency Tass reported that Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF) told the media that his organisation will be involved in the privatisation process of PJSC ALROSA, Russia’s largest mining company and a significant player in the international rough diamond business. Dmitriev is also said to have indicated that there is keen interest from “foreign investors”  to jointly participate in any such transaction along with RDIF.

Russian Deputy Finance Minister Alexey Moiseev   had earlier declared that his Ministry plans to sell 10.9% of ALROSA’s stake and raise around US$ 783 million, Tass elaborated. The Minister had indicated that the stock would be sold on the Moscow Exchange. The agency also  noted that  Russian Finance Minister Anton Siluanov had  stated  previously that “the sale of shares of Alrosa may take place in summer of 2016”.

Currently, ALROSA’s shareholding pattern, as stated by the Company is as follows:  The Russian Federation, represented by the Federal Agency for Management of State Property holds 43.9256%; The Republic of Sakha (Yakutia), represented by the Ministry of Property and Land Relations of the Republic of Sakha (Yakutia) holds 25.0002%; Municipal district administrations of the Republic of Sakha (Yakutia) where ALROSA’s operations are located hold 8.0003%; Other free-floating legal entities and individuals hold 23.0739%.