Mikhail Rabinovich got a blocking stake of FESCO Transportation Group
Loko-Bank shareholder Mikhail Rabinovich got a blocking stake of FESCO Transportation Group having increased his share package to 26.52%, RBC refers to the corporate information disclosure center.
In November 2020, he acquired 17.4% of the transportation group from TPG Capital. According to FESCO statement, the purchase of additional 9.12% was held on 9 September 2021 although the shareholders were informed about that only on 23 December 2021.
A package larger than Mikhail Rabinovich’s is owned by Ziyavudin Magomedov (he holds 32.5% of FESCO) who was arrested in March 2018 for setting up an organized crime group.
FESCO Transportation Group is one of the leading public transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide door-to-door logistics solutions and control almost all steps of the intermodal transportation value chain. FESCO controls the Commercial Port of Vladivostok, rail operator Transgarant and operator of container platforms Russkaya Troyka. FESCO operates dry terminal facilities in Novosibirsk, Khabarovsk and Tomsk. FESCO operates over 100,000 containers and over 8,000 container platforms. FESCO’s fleet numbers 21 vessels deployed primarily on its own sea service lines.
As of January 2022, key shareholders of FESCO with direct or indirect ownership are Andrey Severilov – 23.8% of shares, Mikhail Rabinovich – 26.5%, Ziyavudin Magomedov – 32.5%. About 17% of shares are in free circulation or held by other shareholders.