Sovcomflot has placed an offer to purchase 36,301,145 shares of Novorossiysk-based shipping company Novoship at RUB 81.82 (approx. USD 3.35) each, Russia's largest shipping company indicated in a statement today according to RBC.
As reported earlier, a joint tanker company was formed in December 2007 as a result of a merger of Sovcomflot and Novoship. The new company intends to publish the consolidated financial report under IFRS for 2007 in April 2008.