Mecheltrans acquires 21.64% of Vanino Commercial Seaport from En+
Mecheltrans OOO acquired 21.64% of Vanino Sea Trade Port OAO’s common shares from one of the port’s minor shareholders – a subsidiary of the company En+. The transaction amounted to 4.57 billion rubles, Mechel release reads.
In line with the transaction’s conditions, the port’s shares became Mecheltrans’s property once the agreement was signed, while payment for the share package is due to be made within 145 days. The transaction will be funded by the investors who financed the acquisition of Port Vanino’s controlling stake, and will thus have no bearing on Mechel Group’s leverage.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
Vanino Commercial Seaport OJSC is the largest stevedoring company of Khabarovsk region. It provides handling and forwarding services. Cargo is delivered via Vanino to the north-eastern regions of Russia, Japan, South Korea, China, Australia, USA and other countries of APR. The length of the port’s berthing line is about 2.5 kilometers. The berths occupied by three industrial complexes are equipped in compliance with their specialization.
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