Federal Antimonopoly Service (FAS of Russia) extends the review of the application of OJSC Novorossiysk Commercial Sea Port (NCSP) to acquire a 100% stake in Primorsk Commercial Port LLC (PCP, Leningrad region) until the decision of the RF Government Commission for Control of Foreign investments, the FAS press-service reported yesterday.
The FAS said that the NCSP must also present the draft contract of sale and purchase of shares, indicating the purchase price at which the applicant plans to acquire 100% of shares in PCP Llc.. NCSP will also have to disclose the draft agreement for a credit line identifying the source, amount and conditions for obtaining loans.
Failure to provide information at the request of the federal antimonopoly body shall be the administrative responsibility in accordance with Article 19.8 of the Code of the Russian Federation on Administrative Violations, FAS warned.
As earlier reports said, the NCSP Group had announced its plans for acquisition of a 100% equity stake in Primorsk Commercial Port LLC. Read more in PortNew’s Relevant Topic, Sept. 16, 2010.
The FAS said that the NCSP must also present the draft contract of sale and purchase of shares, indicating the purchase price at which the applicant plans to acquire 100% of shares in PCP Llc.. NCSP will also have to disclose the draft agreement for a credit line identifying the source, amount and conditions for obtaining loans.
Failure to provide information at the request of the federal antimonopoly body shall be the administrative responsibility in accordance with Article 19.8 of the Code of the Russian Federation on Administrative Violations, FAS warned.
As earlier reports said, the NCSP Group had announced its plans for acquisition of a 100% equity stake in Primorsk Commercial Port LLC. Read more in PortNew’s Relevant Topic, Sept. 16, 2010.