The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Russia: $30 billion for state coffers

Rash of strategic sales and IPOs planned.

Russian state coffers are set for a bumper 2006, as the government prepares to sell stakes in some of the largest state-owned companies.

Companies being prepared for sale include Rosneft, Vneshtorgbank, Gazprombank, Svyazinvest, Fesco and, possibly, Kamaz.

If deals are successfully completed, via a mixture of strategic sales and IPOs, state revenues could benefit by $30 billion, according to Dresdner Kleinwort Wasserstein research analyst Eugene Popov.

“Recent statements by the economy minister and the head of the financial regulator indicate willingness on the part of the government to sell stakes in the largest state-controlled entities, which operate in the energy, banking and telecoms sectors,” he says.


With the possible exception of Svyazinvest, the state should retain control over the companies for sale. “Aside from the traditionally expected advantages that come with the foreign ownership, banks could benefit from better diversification of their loan portfolios and access to new markets,” Popov says.

Investor interest is expected to be high. “Some of the companies to be sold represent unique opportunities to participate in the particular sectors’ growth with a lesser degree of risk than buying into the private firms or establishing greenfield operations,” Popov says.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree