Shares of the Ugoria insurance company are being put up for auction

25.05.2012 — News

The auction for the sale of 100% of the shares of the state insurance company Ugoria will be held August 1, 2012. The decision to hold the sale was made by the government of Yugra.

The initial price of the government's stake in the insurer will be 5.2 billion rubles. As part of this privatization, Russian Auction House was chosen to sell this company that currently belongs to the Khanty-Mansi Autonomous District (Yugra). Currently, Ugoria's share capital is worth 1.833 billion rubles, which is 100% owned by the Khanty-Mansi Autonomous District.

The company's press office told RusBusinessNews that the sale was originally scheduled for June 9, 2012, but it has been postponed until August, because potential investors need time to study a report that meets international financial reporting standards on the 2011 operations of the state insurance company. That document will be published in June.

Several major Russian and foreign companies have expressed interest in Ugoria, which is one of the top 15 Russian insurance companies.