Government will choose investment consultants for selling blocking interest in RZD

The RF Government intends to select investment consultants to sell the state’s blocking shareholding in Russian Railways JSC (RZD).
According to the information of the Ministry of Economic Development cited by Interfax, the consultants are to suggest terms, methods, and criteria for the sale. On June 22, the Russian Government announced changes in the privatisation programme for 2011-2013, and the Government will sell 25% minus one share in Russian Railway. Specific information and privatisation methods will be determined and set by the Russian Government taking into account market conditions and the advice of investment consultants.The 25% stake in the country’s rail monopoly that the government wants to privatize by 2013 is worth about RUB 260 Billion (EUR 6.3 Billion), Russian Railways’ managers have said.
The estimate is considerably lower than the government’s own figures. A Finance Ministry official put a 25% share in the company at RUB 700 Billion (EUR 16.9 Billion)
Source: www.rzd-partner.com