Russia: Government to sell United Grain Company till 2013

Moscow / RU. (ami) The Government of the Russian Federation expects to sell 100 percent of stocks of United Grain Company till 2013, stated Igor Shuvalov, the first Vice Prime-Minister. Taking into account that the Government will be able to realize the cooperated work with the Company, the Ministry of Agriculture of Russia and sell 100 percent of stocks till 2013, stated he.

Also the official does not exclude that during the period of 2013 to 2015 the Government will sell the stocks packet of the State Agro-Industrial Leasing Company «Rosagroleasing» JSC. The packet of 50 percent stocks minus one stock. Thus, the Government will still own the control packet of stocks of Rosagroleasing, stated Shuvalov. Thus, during the following five years, about 25 percent of the stocks of Russian Agricultural Bank Rosselhozbank may be introduced for the further privatization.

Sergey Levin, the General Director of United Grain Company, explained that selling of about 50 percent of the stocks of United Grain Company was in the plan of privatization for 2012 for a long time, and the plans improvement till 100 percent by 2013 will not cause any radical changes for the company. As a reminder, United Grain Company is the Government agent, managing the grain intervention fund, and executes the grain market export infrastructure development functions. Levin expects that United Grain Company will be able to save the functions of the Government agent, while becoming the property of the private hands, and told that before the beginning of privatization the company will finish all the procedures by its precapitalization, which will allow to get the multiplicative effect during the company selling (source: agrimarket.info).

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