MOSCOW, February 3 (RIA Novosti) - The supervisory board of Alrosa, Russia's largest diamond producer, has approved a plan to raise the Russian government's stake in the company to 50% plus one share, Russian Finance Minister Alexei Kudrin said Friday.
"We briefly discussed and approved a plan to implement the protocol that was signed last November, including steps to up Russia's stake in the company to 50% plus one share," the minister said.
"To meet this target, a tender will be organized to evaluate the company as well as the republic's [Yakutia] assets for their subsequent inclusion into the company's charter capital," the chairman of the supervisory board said.
According to Kudrin, factoring in the districts, the Republic of Sakha (Yakutia) will have a 40% share.
"The decision was approved yesterday, and the protocol implementation plan will be submitted to the company's board of directors," Kudrin said.
Alrosa's current shareholders are the Russian State Property Management Committee (37%), the Yakutia State Property Management Ministry (32%), and company personnel (23%). Yakutia's eight districts hold the remaining 8%.
