Summa unit gets go-ahead to take over FESCO

Russia’s Federal Antimonopoly Service (FAS) has allowed Cyprus-headquartered Maple Ridge Ltd (a Summa Group unit) to acquire a 100-percent stake in Wiredfly Investments Ltd., which authorizes the company to gain control over the business of Far Eastern Shipping Company (FESCO), the Group’s spokesperson told PortNews citing a letter from the FAS dated June 26, 2012. The information was later confirmed by the antitrust agency.