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ALROSA Proceeds with Non-Core Assets Disposal Program

ALROSA Proceeds with Non-Core Assets Disposal ProgramALROSA Proceeds with Non-Core Assets Disposal Program

ALROSA Proceeds with Non-Core Assets Disposal Program.ALROSA Group proceeds with the non-core assets disposal program. Major assets belonging to JSC Almazy Anabara (ALROSA’s affiliated company), 9.2% of shares of Almazergienbank, and a workshop of Voskhod Mechanical Plant were sold in July-September. In both cases, the assets were sold at a market price determined by an independent appraiser.

The shares of Almazergienbank were bought by OJSC RIK Plus. The transaction value exceeded RUB 200 million. The shares are to be transferred by the end of November this year.

Besides, one of the workshops of Voskhod Mechanical Plant (Yakutsk) was sold at the auction in September. The workshop was bought by the Plant. The cost of the sold property exceeded RUB 105 million.

ALROSA is implementing the Program of alienation of non-core assets approved by the Supervisory Board. As planned, in 2018, the Company is going to sell more than 350 units of real estate, construction in progress, housing, and plots of land. The year-to-date amount of the assets sold is about RUB 31 billion.

The Program of alienation of non-core assets was approved by ALROSA’s Supervisory Board. Its implementation is expected to have a positive impact on the economic efficiency of ALROSA Group and the quality of management, will allow ALROSA’s management to focus on developing the Company’s core diamond business.

Mines to Market
the authorMines to Market
Prashant Rathod

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