Moscow City sell-off
Soon sweet makers United Confectioners will be on offer, and that’s expected to bring $365mln along with another $53mln for the city’s stake in the Svoboda cosmetic firm, some of the oldest enterprises in the city.
The historic Metropol and Slavyanskaya downtown hotels may also go under hammer as well as a share in the Leningrad hotel.
Although Moscow appears to have already sold its biggest assets there’s still a lot on offer, including the privatization of Mosvodokanal which can potentially bring to the Treasury an amount comparable to the income from the sale of Bank of Moscow.
And this is not the end of the story.
Moscow is beginning to lease historic buildings in need of renovation, with an auction planned for the end of April. According to the City Property Department these buildings will need a lot of money spent on them to bring them up to standard, therefore they will be offered at low rents so that leasers will be able to operate them economically.