Support The Moscow Times!

Transneft Investors Seek Sale

Transneft shareholders wrote to Prime Minister Vladimir Putin asking him to sell 25 percent of the oil pipeline monopoly’s common stock, according to a letter e-mailed Thursday by investor Prosperity Capital.

Prosperity and East Capital, Russia’s two largest portfolio fund managers, and Vostok Nafta, a commodity investment manager, said the government may raise 150 billion rubles ($4.9 billion) selling the stake, according to the letter dated Aug. 6.

The three hold 21 percent of Transneft’s preferred shares. The state owns all the common stock, with voting rights.

(Bloomberg)


Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.