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Alrosa plans to raise 6.1B rubles from noncore asset sales in 2019

PJSC Alrosa plans to sell more than 80 noncore assets in 2019, aiming to fetch about 6.1 billion Russian rubles, according to a Dec. 26 release.

The list includes three legal companies, 14 of realty and land objects, 15 under-building objects and 49 housing objects. The largest of these are the Golubaya Volna sanatorium and Lenskoe Heat Grids.

Alrosa's supervisory council affirmed the plan in a Dec. 14 meeting.

The company has already announced an auction process for Golubaya Volna and expects the sale to conclude in the first quarter of 2019. The starting price for the auction is fixed at 1.2 billion rubles.

The Lenskoe Heat Grids asset is expected to be sold at an open auction in late 2019.

Alrosa sold its gas assets along with 250 objects in the realty, land and housing sectors, raising about 31 billion rubles in 2018.

As of Dec. 25, US$1 was equivalent to 68.79 Russian rubles.