OREANDA-NEWS. September 10, 2008. Reports by some media that JP Morgan, appointed by ALROSA to hold a tender to sell the entity - owner of 90% of equity in CJSC Geotransgas, has allegedly extended the deadline for the transaction from September 1 to the end of the year, are incorrect, reported the press-centre of ALROSA.

Extension of a certain ‘deadline’ for the transaction is impossible in principle, as no specific time-frame in respect of this transaction has ever been set. Characteristics of the asset, transaction parameters and structure have also been misrepresented in the media.

ALROSA reaffirms its intention to dispose of this asset. Most interesting proposals in this respect have come from Russian companies.

The decision concerning the timing and parameters of the transaction is solely at the discretion of ALROSA.