Owners of the control stake of Novorossiysk Commercial Sea Port (50.1%) plan to sell 20% to Kadina Ltd, Vedomosti reports according to Rosbalt. A source close to the port says the deal valued at $490 million is to be completed within a month. The structures purchasing the shares are controlled by Arkadi Rotenberg who confirmed the negotiations.
On completion of the transaction Rotenberg will control 10% of NSCP stock with the right to have one representative in the company’s Board of Directors. The package is to cost $410 million.