The Auction House of the Russian Federation signed agency contract with Rosimushchestvo
In February 2013, in accordance with the decree of the Government of the Russian Federation of 31.01.2013 №101-r, , an agency contract was signed between the Auction House of the Russian Federation (AHR) and the Russian Federation, represented by Rosimushchestvo (Federal Agency for State Property Management).
According to the contract, the AHR is given functions for the sale of 36 share packages in federal ownership. Large and small companies from various industries are included on the list approved by the Government. They include: 13.11% of shares in UAZ, 25.5% in Murmansk Shipbuilding Ltd, 25.48% in Lenmetrogipotrans scientific research planning and surveying institute, 10.96% in Molecular Electronics Institute and Mikron Factory, 25.5% in Sakhalin Shipbuilding Ltd, 20% in Northern Shipbuilding Ltd, 25.5% in Sevzapelektroset stroi, and 25% in Tsentrodostroi.
Additionally, the AHR has been given the duty of preparing reports to value the share packages. The evaluation will be carried out by an independent valuer, under the contract signed with AHR.
“The contract with Rosimushchestvo was signed within the period established by the Government of the Russian Federation. We are now analyzing the assets received, so it is too early to talk about the first auction. The AHR is the first private seller of federal property in history with experience of organizing auctions for privatization. At the same time, the AHR has already proved itself in selling property of the Khanty-Mansiisk autonomous okrug – Yugra at classic auctions, and also property of St. Petersburg on the electronic platform of the AHR.”
More information can be found at the site of The Auction House of the Russian Federation.