Russia’s Transneft wants pension fund to buy 3% stake

March 21, 2014

Russian state-controlled oil pipeline monopoly Transneft thinks that a purchase of a 3% stake in the company by the Pension Fund during privatization will be the most acceptable way, though the government should not hurry with the sale, CEO Nikolai Tokarev said on March 20, Prime has reported.

“The Pension Fund may buy 3%. First, it’s safe and guaranteed. Second, pension funds are now allowed to acquire such assets,” Tokarev said.

The final decision on the sale rests with the government, which owns 78.3% in Transneft, or 100% of voting shares.

Copyright: Prime, 2014