The government announced the sale of state block of shares of «ALROSA».

The Russian government plans to sell 11 % of the ordinary shares of AK «ALROSA», which are Federal property.

Arbitration lawyer: «Pre-placement price of the privatized 11% of shares of «ALROSA» may amount to 57 billion rubles, or $889 million Anchor investors may become three of the Fund-minority interest company – OppenheimerFunds, Lazard and Genesis, who are willing to spend about $450 million to repurchase 5.5% of the shares.».

The arbitration case: «the Placement of shares will take the form ABB (accelerated book building – the accelerated collection of applications).».

This method is applicable when the company is well-known to investors and expected guaranteed demand for its paper. Accommodation in this format can be conducted over several hours in contrast to classical transactions, where the order book is kept open from several days to two to three weeks.

The business lawyer: «ALROSA» is engaged in the exploration, production, and sale of diamonds, leading diamond mining in Yakutia and Arkhangelsk region.».