Norilsk Nickel sells its share in Arkhangelsk Sea Commercial Port

The Board of Directors of OJSC MMC Norilsk Nickel has approved the sale of the Company’s share in Arkhangelsk Sea Commercial Port OJSC (the Company controls 74.78% of Arkhangelsk SCP stock). According to the press center of Norilsk Nickel, the transaction complies with the Company’s strategy on gradual disposal of non-profile assets.

The statement says Norilsk Nickel redirects its cargo flows to its new transshipment terminal in Murmansk in order to reduce operational costs.

The value of the shares has been determined through independent evaluation. The package of shares will be bought by Osoblanco Holdings Limited, associated with one of Norilsk Nickel shareholders - Invest AG.

Arkhangelsk Sea Commercial Port OJSC is a multi-profile stevedoring company of port Arkhangelsk. It specializes in transshipment of general cargo, cellulose, cardboard, containers, timber, metal, fertilizers, heavy equipment, loose and dry bulk cargo. In 2014, the company handled 1.480 mln t of cargo.