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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Financials

Russian state fund aims to take part in Bashneft privatisation

Posted on 02 September 2016

The Russian Direct Investment Fund (RDIF) is aiming to take part in the privatisation of oil producer Bashneft, Kirill Dmitriev, head of the fund, said on Thursday. “We certainly will participate in Bashneft (privatisation),” he told reporters. The Russian government plans to sell a 50.08 percent stake in Bashneft. The stake has been valued at around 300 billion roubles ($4.6 billion).
The RDIF plans to look for investors and bid itself for one tenth of the Bashneft stake being offered, Dmitriev said. He compared the fund’s plans with a model previosly used when it took part in the privatisation of diamond producer Alrosa earlier this year………………………………………..Full Article: Source


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