RF Federal Antimonopoly Service has approved consolidation of 100% of shares of OJSC Astrakhan Korabel by RR-MNP LLC, Interfax quotes Ilja Kokarev, Director General of RR-MNP and co-owner of its parent company Hyssop Investment Ltd, According to Gudok.Ru.
As Mr. Kokarev announced earlier, RR-MNP intends to acquire 41.22% of Astrakhan Korabel from Kazgiproneftetrans (Kazakhstan). The deal is to be closed by March 1. In the middle of 2007, the property of Astrakhan Korabel as well as of two other shipyards (Lotos and III Int. Shipyard) earlier purchased from MNP Group was transferred to ASPO LLC (Astrakhan Shipbuilding Production Association). According to SPARK data base, as of August 1, 2007, the yards controlled 29.76%, 2.12% and 33.16% of ASPO shares respectively. RR-MNP held 32.59% of shares.
As of today RR-MNP holds 56% of the shipyard purchased from RR Offshore, 26% of which belonged to Norway-based Aker Kvaerner Engineering and Technology, with the rest of the shares owned by RR-MNP shareholders. In 2007, Aker tried to get 56% of Astrakhan Korabel and demanded pre-schedule repayment of credit (EUR 5 million) granted to RR Offshore on security of the Astrakhan shipyard’s shares. The shares were written-off in favor of Aker, though FAS initiated an administrative offence case, which resulted in a fine of RUR 100,000 imposed on Aker with an order to return the shares to RR Offshore.