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Alrosa Offloads $19M of Non-Core Assets

Company plans further sell-offs as it focuses on diamond business.
May 8, 2019 3:21 AM   By Rapaport News
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RAPAPORT... Alrosa has sold a number of its non-diamond-related businesses in an effort to consolidate operations and focus on its diamond assets, it said Tuesday.

During the first quarter, the Russia-based miner disposed of 21 assets, including subsidiary equity stakes and real estate totaling RUB 1.24 billion ($19 million). The most significant of those was JSC Golubaya Volna health resort, which it auctioned for RUB 1.21 billion ($18.6 million).

Last year, the miner sold off gas assets, property and land for approximately RUB 31 billion ($447 million).

The miner wants to sell RUB 6 billion ($92 million) in non-core assets in 2019. It expects to sell an additional 69 non-core assets throughout the rest of the year.

Image: Flags outside an Alrosa facility. (Alrosa)
Tags: Alrosa, Diamond mining, non-core assets, Rapaport News
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