State-owned stake (25.5% of authorized share capital) in Murmansk Shipping Company has been put up at auction, the Federal Agency for State Property Management (Rosimushchestvo) said on Friday.
The auction is organized by Russian Auction House. Suggested Opening Bid (SOB) of the state-owned stake is RUB 700 million ($21.2M), minimum price - RUB 350 million.
Besides, the state property manager put up for sale: a state-owned stake in Northern Shipping Company (20%), SOB – RUB 200 million ($6.1M), minimum price – RUB 100 million; a stake of 31.2% of share capital of the shipping company, SOB – RUB 65.5 million. At the previous auction, the SOB for the same stake was RUB 80 million.
Submission of applications by bidders to participate in three auctions is open on December 13 2013. Submission deadline is December 17, 2014. The auctions are scheduled to be held on March 18, 2014.
JSC Murmansk Shipping Company (MSCO) is an integrated corporate structure, which comprises the fleet of three Russian operators: JSC Murmansk Shipping Company, JSC Northern Shipping Company, JSC Northern River Shipping Company with a total deadweight of about 2 million tonnes. The share of the Russian Federation in the authorized capital of MMP is 25.5%. LLC Arctic Technology holds 62.7% of shares. The authorized capital is RUB 943,454 (ordinary shares in uncertificated form) State registration No: 1-01-00088-A. The nominal value of a share RUB 1. As of 18 June 2013, there were 1374 employees in the company.
JSC Northern Shipping Company is a largest operator in Russia's northwest region. The company specializes in maritime transport worldwide, including shipping along the Northern Sea Route. The Company owns and operates a fleet of 41 vessels of different types (23 cargo ships, 10 dredgers and 8 auxillary vessels and 7 chartered ships). The Company operates a fleet of multipurpose dry bulk carriers of DWT ranging 2,500 to 14,000 tonnes, transporting all kinds of dry goods, including radioactive and hazardous ones.
JSC Northern River Shipping (part of Murmansk Shipping Co Holding) is one of the largest transportation companies of the European North of Russia, engaged in transportation of goods and passengers by inland waterways, in short sea shipping.
The Company currently operates about 200 inland and mixed "river-sea" ships. Annual traffic volume reaches more than 7,000 tonnes.