Coal company "SUEK" has completed the acquisition of a $260-m majority stake in OJSC Murmansk Commercial Seaport (MCS), an informed source told PortNews.
"The money has been transferred to the seller’s account, the deal is closed", the source said.
According to him the companies, controlled by Nikolai Yegorov and Soslan Harebov have completely pulled out of the MCS ownership.
The remaining shares are currently owned by the Russian Government (25.49%) and a few minority stockholders.
Earlier in the day MCS has unveiled the information on pulling out of two major stockholders who held 47.65% of common stock. Laterium Commercial Limited previously owned 12.68% in the stevedore company, Specialized Project Investment B.V, held a 34.97% stake in MCS. The companies reduced its share to 0% by the alienation of securities. The corresponding entry has been made to the stockholders’ account on February 13, 2012.
JSC Murmansk Commercial Seaport, founded in 1994, ranks forth largest Russian port by volume of handled cargo. The company operates 17 berths with total length of about 3 km. The port is able to accommodate vessels with draft of 15.5 meters and length of more than 265 meters. MCS net income (under RAS) for the first half of 2011 shrank by 30.2% to RUB 138,534,000, revenues - fell 3.7% to RUB 1,403,254,000. In 2011 cargo throughput of MCS was 14,420,033 tons.
Previously, the Russian government published at the end of March 2011 a list of state-run entities included in the privatization plan for 2011-2013. Overall, in the next two years Russia is set to sell 20% of shares in PJSC NCSP, 25.49% shares of JSC Murmansk Commercial Seaport (MCS), a 100-percent state-owned stake of the largest Russian rail carrier of liquefied natural gas JSC LNG-Trans, 25% of shares in Moscow River Shipping Company and a 55% stake in Vanino Commercial Sea Port (Port Vanino).