Russian Government Will Sell 11 State-Owned Shares to 1 Trillion Rubles

Ministry of Economic Development (MED) of Russia and  Ministry of Finance of Russia have agreed on a preliminary list of the largest state companies and banks for privatization in 2011-2013. 

Russian Government hopes to raise additional funds in the budget in the amount of $ 1 trillion rubles by selling shares in 11 state-owned enterprises.

The state does not intend to go beyond the state-owned stake of 75% of shares. Such companies, in particular, are "Transneft" and FGC.