06.06.2013

First auction of AHR as part of federal privatization The federal package of shares in Lenmetrogiprotrans was realized at the auction

On 6 June, the Auction House of the Russian Federation held an auction for the sale of 25.48% of shares (450 ordinary registered shares) in the Lenmetrogiprotrans Scientific research, planning and surveying institute.

This was the first sale as part of the decree of the Government of the Russian Federation of 31 January 2013 № 101-r, according to which the Auction House of the Russian Federation was given 36 share packages of federal state enterprises for realization.

There were 8 bidders at the auction.

The auction began at 170 million rubles (auction step 3 million rub.)

The sale price of the share package exceeded the starting price by almost 100 million, and came to 266 million rubles.

The buyer of the assets was Dominika.

“Today a precedent has been created – for the first time in the history of the new Russia, a federal asset has been sold by an independent seller at an open auction.

We believe that we have justified the trust that was placed in us – the state share package was realized at more than 55% of the starting price.

Many participants came to the auction. This is the consequence of an adequate evaluation of the asset – the starting price corresponded to today’s market realities and the actual condition of the enterprise, and also the result of competent pre-sale preparation of the asset, and targeted work with every possible auction participant” (general director of the Auction House of the Russian Federation Andrei Stepanenko).

For reference

Lenmetrogiprotrans
The asset sold is an example of a successful business in the planning and surveying sphere. The enterprise is unique in its field, and has invaluable personnel. It is a monopolist in developing documentation for the planning and construction of the metropolitan, tunnels and ancillary infrastructure objects. In 1984 the institute, by a decree of the Ministry of Transport construction, was approved as the chief institute for planning of mountain, railway and vehicle tunnels.

At present, the enterprise is participating actively in developing planning and budget documentation for the construction of Olympic objects in Sochi – tunnels and mountain objects.

25.48% constitutes a blocking share package which will provide access to financial reports and make it possible to participate in company management.

According to an evaluation report by the Avers company, the balance cost of Lenmetrogiptrotrans assets is 1.219 billion rubles. With a personnel of 533 people, the turnover of the enterprise is 2.247 billion rubles (data for 2012).

The Auction House of the Russian Federation
By a decision of the Government of the Russian Federation of 25 October 2010, the Auction House of the Russian Federation is authorized to organize auctions for the sale of federal property. By decree of the Government of the Russian Federation of 31 January 2013 № 101-r, the Auction House of the Russian Federation has been given 36 share packages of federal state enterprises for realization. All objects are included in the Forecast plan (program) for privatization of federal property for 2011-2013.