Will Rusnano be transferred to private ownership?

Mass media: Chubais proposed to make Rusnano a private company by 2020

RIA NewsThe chairman of the Board of Rusnano, Anatoly Chubais, sent a draft strategy for the development of the company to the government, in which he proposed to make it completely private by 2020, the Izvestia newspaper wrote on Tuesday.

According to the strategy, a copy of which is available to the publication, privatization will take place in two stages. In 2013, it is planned to sell 10% of the shares of the corporation, which Chubais announced in April. From 2013 to 2014, Rusnano OJSC will create a management company to separate asset management and ownership. Rusnano's investment in private equity funds in Russia will be implemented in the form of an "investment partnership", and in foreign jurisdictions – only with significant private investments. The total share of foreign investors and management representatives, according to the strategy, will not exceed 25% of the authorized capital of Rusnano Management Company.

"In 2015, the second stage of the strategy implementation will begin, during which Rusnano planned to sell the Rusnano Management Company to private investors, provided that the sales volume from the implementation of Rusnano projects reaches 300 billion rubles. We are talking about the sale of 60% of the company's shares, which will be sold at 20% annually, starting in 2013. By 2020, the remaining 40% of Rusnano's shares will be sold to investors, thus the state–owned company will completely pass into private hands," the newspaper reports.

The Management Company will become the sole executive body, and employees from Rusnano will be transferred to it. The company will receive financing on the basis of management fees that correspond to international practices of the private equity industry, the newspaper writes. According to the development plan, the volume of sales of Russian nanoindustry products by 2020 will reach 500 billion rubles, despite the fact that in 2013 the sales volume according to the plan will be only 50 billion rubles.

The press service of Rusnano confirmed to Izvestia that Chubais had sent his proposals to the government on the reorganization of the state-owned company into the international technology direct investment fund.

Portal "Eternal youth" http://vechnayamolodost.ru14.05.2013