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M&A: Ministry of Economic Development picks three investment banks to operate sale of 7% in ALROSA

Russia's Ministry of Economic Development announced it had completed another shortlisting of investment banks to operate the sale of state-owned shares in OJSC ALROSA.

In particular, CB J.P. Morgan Bank International LLC, Morgan Stanley Bank LLC and Goldman Sachs (Russia) have advanced into finals.

It will be recalled that in early February 2013, the Ministry of Economic Development announced selection of legal entities to operate the sale of a 7% stake in ALROSA.

ALROSA (tax number: 1433000147) is one of the largest diamond-mining companies of the world accounting for 97% of all diamonds of the Russian Federation and about 25% of the global diamond production. The company includes the unified marketing company United Selling Organization ALROSA, Brillianty ALROSA, Aikhal Aikhal Mining and Processing Division, Mirny Mining and Processing Division, Udachny Mining and Processing Division and Nyurba Mining and Processing Division. In 2010, ALROSA Group sold diamonds and brilliants for $3.483 billion. The share of the Russian Federation in ALROSA's authorized capital is 50.9%. Republic of Sakha (Yakutia) and 8 uluses (districts) where the company's deposits lie secure 40% of shares. The company's authorized capital is RUB 3.682 billion represented by 272,726 common shares at par value of RUB 13,502.5.

Net profit (IFRS) of OJSC ALROSA for January-September 2012 decreased by 30.09% to RUB 24.839 billion from RUB 35.528 billion for 9 months 2011. Revenue decreased by 2.79% to RUB 104.319 billion from RUB 107.315 billion, pre-tax profit by 21.56% to RUB 34.401 billion from RUB 43.857 billion, EBITDA decreased by 17% to RUB 48.24 billion, EBITDA margin was 45%.

According to the information and retrieval system DataCapital, net profit (RAS) of OJSC ALROSA for January-September 2012 decreased by 7.01% to RUB 22.209 billion from RUB 23.883 billion the year before. Revenue rose by 2.23% to RUB 90.795 billion from RUB 88.818 billion, sales profit shrank by 11.73% to RUB 37.068 billion from RUB 41.993 billion, pre-tax profit increased by 3.1% to RUB 29.104 billion from RUB 28.228 billion.

"AK&M", 19.02.2013


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