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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  ALROSA    ALRS   RU0007252813


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Exclusive - UBS, Credit Suisse interested in advising on Russia privatisation: sources

03/29/2016 | 09:17am EST
A Swiss bank Credit Suisse sign is pictured in Geneva

MOSCOW (Reuters) - Swiss banks UBS and Credit Suisse are interested in advising the Russian government on several privatisations as long as the deals do not violate sanctions, three banking sources told Reuters.

The banks responded to a request for proposals that the Russian Economy Ministry sent to Russian and foreign banks this month for advisory roles in the planned sales of a 50.08 percent stake in oil firm Bashneft (>> ANK Bashneft' PAO) and 10.9 percent stakes in both diamond miner Alrosa (>> AK Alrosa PAO) and lender VTB (>> Bank VTB PAO).

Bankers have previously told Reuters that Western investments banks with Russian operations are reluctant to advise Moscow on planned privatisations as they are worried about the consequences of violating Western sanctions imposed on Russia over the conflict in Ukraine.

However, three bankers told Reuters that UBS <UBSG.VX> and Credit Suisse <CSGN.VX> were among banks that responded to the request. A fourth banking source said that Italy's UniCredit (>> UniCredit SpA) had also answered the RFP.

"I heard that the Swiss were saying that they will take part if no sanctions are broken," a senior Western banker said. The banker and other banking sources said no U.S. bank has responded to the RFP.

Spokeswomen for Credit Suisse and UBS and a spokesman for UniCredit all declined to comment.

U.S. banks Goldman Sachs (>> Goldman Sachs Group Inc), JP Morgan (>> JPMorgan Chase & Co.), Bank of America Merrill Lynch, Citi (>> Citigroup Inc) and Morgan Stanley (>> Morgan Stanley) were among Western banks that received RFPs, along with European peers including Deutsche Bank (>> Deutsche Bank AG), Barclays (>> Barclays PLC), Royal Bank of Scotland (>> Royal Bank of Scotland Group plc), BNP Paribas (>> BNP PARIBAS), Societe Generale (>> SOCIETE GENERALE) and Raiffeisen (>> Raiffeisen Bank International AG).

Russian Economy Minister Alexei Ulyukayev said last week that three banks should lead the privatisation process set for later this year, with one or two more banks helping to run the deals. He said that Western banks had responded to the RFPs but did not name them. A spokeswoman for the economy ministry declined to name the banks.

Though Switzerland is not a member of the European Union, it joined EU sanctions imposed on Russia over Moscow's role in the Ukraine crisis.

Nevertheless, Switzerland was excluded from counter-sanctions imposed by Russia on imports of food products from Europe. As a result, the only Western European cheese on sale in Moscow supermarket shelves is Swiss cheese.

The EU financial sanctions do not explicitly prevent European firms from advising on most Russian transactions.

But some of the measures include grey areas that are open to interpretation. Firms are also concerned that their business with Russian partners could be declared to violate sanctions if they restrictions are tightened at any point.

Russian banks invited to submit proposals included the following lenders or their units: Sberbank (>> Sberbank Rossii PAO), VTB (>> Bank VTB PAO), VEB, Gazprombank, Renaissance Capital, Alfa Bank, MDM Bank and The Auction House of the Russian Federation.

Economy Minister Ulyukayev told reporters on Monday that the ministry would continue looking through the proposals this week.

It will then send its recommendations to a government panel which will make the final decision, the ministry spokeswoman said in emailed comments.

(Additional reporting by Darya Korsunskaya in Moscow, Silvia Aloisi in Milan, Joshua Franklin and Oliver Hirt in Zurich; editing by Anna Willard)

By Katya Golubkova, Olga Popova and Oksana Kobzeva

© Reuters 2016
Stocks mentioned in the article
ChangeLast1st jan.
ALROSA 0.97% 89.94 End-of-day quote.6.67%
BANK OF AMERICA CORPORATION -0.52% 28.91 End-of-day quote.-17.49%
BARCLAYS PLC 0.73% 149.64 End-of-day quote.-17.30%
BNP PARIBAS 1.38% 45.495 End-of-day quote.-15.06%
CHEESE FUTURES (CSC) - CMG (ELECTRONIC)/C1 0.19% 1.614 End-of-day quote.-21.30%
CITIGROUP INC. -1.08% 56.58 End-of-day quote.-29.18%
CREDIT SUISSE GROUP AG 0.77% 11.75 End-of-day quote.-11.03%
DEUTSCHE BANK AG 0.61% 9.81 End-of-day quote.40.97%
MORGAN STANLEY 0.06% 64.06 End-of-day quote.25.31%
NATWEST GROUP PLC 1.09% 171.9 End-of-day quote.-29.23%
PUBLICOIL COMPANY BASHNEFT 0.00% 1685.5 End-of-day quote.-12.67%
RAIFFEISEN BANK INTERNATIONAL AG -1.77% 16.64 End-of-day quote.-25.68%
RENAISSANCE,INCORPORATED 3.47% 924 End-of-day quote.-47.20%
SBERBANK OF RUSSIA -0.40% 263.94 End-of-day quote.3.61%
SOCIÉTÉ GÉNÉRALE 1.96% 18.398 End-of-day quote.-41.82%
SWISS RE LTD 0.02% 82.96 End-of-day quote.-23.70%
THE GOLDMAN SACHS GROUP, INC. -0.92% 235.47 End-of-day quote.3.36%
THE LEAD CO., INC. 2.91% 1275 End-of-day quote.226.92%
VTB BANK (PUBLIC JOINT-STOCK COMPANY) -0.73% 0.0376 End-of-day quote.-17.98%
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Sales 2020 199 B 2 675 M 2 675 M
Net income 2020 37 208 M 501 M 501 M
Net Debt 2020 79 028 M 1 064 M 1 064 M
P/E ratio 2020 19,0x
Yield 2020 4,44%
Capitalization 648 B 8 715 M 8 732 M
EV / Sales 2020 3,66x
EV / Sales 2021 2,87x
Nbr of Employees -
Free-Float 39,9%
Duration : Period :
ALROSA Technical Analysis Chart | MarketScreener
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Technical analysis trends ALROSA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 91,66 RUB
Last Close Price 89,94 RUB
Spread / Highest target 42,3%
Spread / Average Target 1,92%
Spread / Lowest Target -27,7%
EPS Revisions
Sergey Sergeevich Ivanov President, CEO & Deputy Chairman-Supervisory Board
Anton Germanovich Siluanov Chairman-Supervisory Board
Alexey Philippovskiy Chief Financial Officer
Natalia F. Guryeva Member-Supervisory Board
Oleg Romanovich Fedorov Member-Supervisory Board
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1st jan.Capitalization (M$)
ALROSA6.67%8 715