Russian Gov’t to sell its stake in Murmansk port to SUEK and Alfa Capital
The Russian Government has issued a decree, according to the Russian Economic Development Ministry proposal approved by the Ministry of Finance, to sell state-owned shares of JSC Murmansk Commercial Seaport (MCS, MMTP), a stevedore company operating at the Russian northern port. The official government website said 28,234 shares (18.7132% of the authorized share capital) will be sold to SUEK. Cyprus-headquartered Alfa Capital Holdings Limited (Cyprus) will acquire 10,240 shares (6.7869% of the share capital).
The Russian Gov’t order on the sale of a 25.5-percent stake in MMTP was signed on April 17, 2012 by the then Prime Minister Vladimir Putin.
Recently, SUEK has acquired the controlling interest in Murmansk Commercial Seaport.
OJSC Murmansk Commercial Seaport was founded in 1994. The stevedore operates 17 berths of total length of about 3 km. The waters depth allows the port of Murmansk to accommodate vessels with draft of 15.5 m and length of more than 265 m. MMTP 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 2011, net income of the company fell 30.2% year-over-year to RUB 138,534,000, revenue – by 3.7% to RUB 1,403,254,000, cargo throughput totaled 14,420,033 tons.