Last week NCSP announced it had completed the acquisition of 100 percent of participation interest in authorized capital of Primorsk Trade Port LLC (PTP). The agreement between the buyer –PJSC NCSP and the seller, sole stockholder of PTP LLC - Cyprus-headquartered Omirico Ltd., was signed on Jan. 21, 2011.
Omirico Limited, jointly controlled by JSC Transneft and Mr. Ziyavudin Magomedov, notified PJSC NCSP of the acquisition on Jan. 21, 2011 of 100% of outstanding stocks of Novoport Holding Ltd, which owns a 50.1-percent stake in PJSC NCSP.
Novorossiysk Commercial Sea Port is the largest Russian port operator. NCSP shares are traded on Russia's RTS and MICEX exchanges (Ticker: NMTP) and on the London Stock Exchange (Ticker: NCSP) in the form of GDRs (1 GDR representing 75 shares). NCSP Group incorporates seven stevedore companies, PJSC Novorossiysk Commercial Sea Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
Primorsk Trade Port LLC is the largest stevedore operating at the Port of Primorsk located on the Baltic Sea to the northwest of St. Petersburg. Port of Primorsk, the major Russian oil port and the terminus of the Baltic Pipeline System, enabling bulk of crude oil exports in the North-West of Russia. In 2010 PTP transshipped for export 71,7 million tons of crude oil (versus 75,895m a year earlier).