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2011 May 23   09:42

Sale of state-owned stake in Irtysh and Amur Shipping canceled

Auctions to sell state-owned shares of Irtysh Shipping Company and Amur Shipping Company scheduled for May 19th were cancelled, the Federal Agency for State Property Management (Rosimushchestvo) said.

The sale of a 25.5-percent state-owned stake (87,834 of common registered stock, SOB for the stake – RUB 99,785,000) in Irtysh Shipping Company was announced cancelled according to paragraph 3 of Article 18 of Chapter IV of the Federal Law of 21 December 2001 № 178-FZ "On privatization of state and municipal property." No details were disclosed.

The auction for sale of a 25.5 percent state-owned stake (101,346 of common registered stock, the stake SOB – RUB 255,662,000) in Amur Shipping Company was canceled as the agency did not admitted two bidders to participate in the auction.

JSC Irtysh Shipping Company is the major operator in the Russian Siberian region. The company specializes in freight and passengers transportation.

Amur Shipping Company was founded in the mid-20th century. The shipping company is a member of the Russian timber industry holding RFP Group and carries timber cargo for the holding. ASC moves more than 1.5 million tons of cargo and about 0.8 million passengers a year.

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