The Far Eastern Sea Shiping (DVMP) BOD approved the purchase of 100% share in the authorised capital of M-Port that controls 95.2% of the authorised capital of Vladiortorgport for more than $180 mln, tha Company says.
The DVMP BOD approved the deal on the following conditions: 40% shares of the authorised capital of M-Port will be purchased from Port-Activ for counterpart funds of $70 mln, 10% share - from SKB of Primopye Primsocbank for counterpart funds of $20 mln, 50% share - from Port-Aktiv for the counterpart funds of half-sum got by formula EBITDAх10 minus net debt, but not less than the counterpart funds of $90 mln.
It was already said that on August 16, 2007 Magnitigorsky Metallurgic Plant sold the 50% share in M-Port having control over Vladmortorgport to drive it to zero.
Earlier M-Port was controled by Port-Activ and Magnitogorsky Metalurgic Plant on a pariti basis.
Vladmortorgport is working in the sector of the processing of bulk, timber and other general cargo including containers.
The port has 16 mooring lines of 4.2 tousand meters long, two of which are of cargo-and-passanger tipe.
In 2006 VMTP under RAS decreased revenues by 17.9% to RUB 949.8 mln. Gross profit fell 5.7% to RUB 295.9 mln. The net profit totaled RUB 69.527 mln. Products prime cost decreased 22.4% to RUB 653.8.
In 2006 VMTP handled 4037.3 th thons of cargos, which is 37.9% lower y-o-y.
The Shiping is one of the leading transportation entities in Russia. It has RUB 2.054 bn share capital split in 2054491000 common stocks.
The 2006-net profit reached $68.9 mln, which is 6.1 fold higher peioe year. Pre-tax profit grew 2.3 times to $51.5 mln, gross profit increased 1.5 times to $158.1 mln. The turnover grew 1.4 times up to $457.5 mln.
The DVMP BOD approved the deal on the following conditions: 40% shares of the authorised capital of M-Port will be purchased from Port-Activ for counterpart funds of $70 mln, 10% share - from SKB of Primopye Primsocbank for counterpart funds of $20 mln, 50% share - from Port-Aktiv for the counterpart funds of half-sum got by formula EBITDAх10 minus net debt, but not less than the counterpart funds of $90 mln.
It was already said that on August 16, 2007 Magnitigorsky Metallurgic Plant sold the 50% share in M-Port having control over Vladmortorgport to drive it to zero.
Earlier M-Port was controled by Port-Activ and Magnitogorsky Metalurgic Plant on a pariti basis.
Vladmortorgport is working in the sector of the processing of bulk, timber and other general cargo including containers.
The port has 16 mooring lines of 4.2 tousand meters long, two of which are of cargo-and-passanger tipe.
In 2006 VMTP under RAS decreased revenues by 17.9% to RUB 949.8 mln. Gross profit fell 5.7% to RUB 295.9 mln. The net profit totaled RUB 69.527 mln. Products prime cost decreased 22.4% to RUB 653.8.
In 2006 VMTP handled 4037.3 th thons of cargos, which is 37.9% lower y-o-y.
The Shiping is one of the leading transportation entities in Russia. It has RUB 2.054 bn share capital split in 2054491000 common stocks.
The 2006-net profit reached $68.9 mln, which is 6.1 fold higher peioe year. Pre-tax profit grew 2.3 times to $51.5 mln, gross profit increased 1.5 times to $158.1 mln. The turnover grew 1.4 times up to $457.5 mln.