Chubais proposes to make Rusnano a private company by 2020

Chubais proposes to make Rusnano a private company by 2020The Chairman of the Board of Rusnano, JSC Anatoly Chubais has submitted a draft Strategy of the company development to the government, proposing to make Rusnano a fully private company by 2020. Rusnano’s revenue will amount to 500B RUR by that time according to the project on Strategies of the state-owned company.

According to plans, the privatization will take place in two stages. A 10% stake in the company announced by Chubais in April will be sold in 2013. Rusnano, JSC will create a management company within the period from 2013 to 2014 to separate asset management and ownership. Rusnano, JSC will invest in private equity funds as an investment partnership in Russia, and in foreign jurisdictions - only with significant private investments.

The second stage will start in 2015: Rusnano plans to sell the MC Rusnano to private investors subject to reaching the volume of 300B RUR from Rusnano’s projects sales. It is about the sale of a 60% stake in the company, 20% annually starting from 2013. The remaining 40% will be sold to investors by 2020.

The MC will become the sole executive body and include employees of Rusnano, JSC. According to the development plan, the sales volume of Russian nanotechnology products will reach 500B RUR by 2020, while the volume of sales for 2013 is only 50B RUR according to the plan.