• 2011 October 3 10:38

  FAS rejects TIM Consult’s bid to buy 63.53% stake in MCS

  

  The Federal Antimonopoly Service of Russia (FAS) has rejected the petition of LLC TIM Consult to acquire a 63.53 percent stake in OJSC Murmansk Commercial Seaport (MCS) due to incomplete documents the bidder submitted, the agency said.

  
  According to FAS, the package of documents did not contain the company’s balance sheet as of the last reporting date preceding the date of the application submission.
  

   

  OJSC Murmansk Commercial Seaport was founded in 1994. MCS is operates 17 berths of total length of about 3 km. The waters depths allow the port to accommodate vessels with draft of 15.5 m and length of more than 265 m. The stevedore specializes in handling ranged cargoes, including non-ferrous metals and alloys in packages, rolled ferrous metals, coal, apatite concentrate, alumina, and scrap and iron ore pellets in bulk, chemical products in bags and big-bags, construction cargo and foodstuff. In 2010, MCS handled more thant12.8 million tons of different cargoes.

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