RZD Logistics, a subsidiary of Russian Railways (RZD) has acquired 25% of shares of Vanino Commercial Sea Port (JSC Port Vanino), the port operator said in a press release.
The equity stake (24.99827%) was purchased through JSC Titan, a JV RZD Logistics (51%) and of JSC National Capital Bank (49%).
In December 2012, LLC Mechel-Trans, a sister company of Mechel Group, acquired for RUB 15.5 bn a 73.3% stake of JSC Port Vanino in a privatization auction. Later, 71.04% of the shares were sold to three Cyprus-based offshore businesses (each received 23.68% of shares).
This week one of the companies, Travine Trading Ltd., which owned 23.68% of the ordinary shares pulled out of the board of shareholders of Port Vanino.
JSC Vanino Commercial Sea Port (Port Vanino) is the major operator of the port of Vanino (Khabarovsk Territory). The port is a gateway for trade flows between Russia and Japan, South Korea, China, Australia, USA and other countries of Asia Pacific Region. Vanino also handles imports shipped to the northern regions of Russia. Port Vanino operates quay wall of total length of about 2.5-km with three specialized cargo handling facilities.