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FESCO bids the governmental stake in NCSP and National Container Company

18.07.2013 02:01
Section: M&A

On July 18, the Board of Directors of FESCO will discuss the wisdom of buying state-owned 20% stake in the Novorossiysk Commercial Sea Port (NCSP) and the National Container Company (NCC).

The RF Federal Agency for State Property Control (Rosimuschestvo) is going to sell the state-owned stake in the NCSP before the year-end. The possible bidders are “Delo” group of companies (owned by Sergey Shishkaryov), Neftegazindustria owned by Vladimir Kogan, United Capital Partners (UCP) owned by Ilya Scherbovich, Ukrainian terminal group TIS, an international trader Noble Group, International Container Terminal Services (the Philippines), Invest AD fund, and Macquarie Renaissance Infrastructure Fund. The co-owner of the NCSP is Summa group of companies (together with Transneft, it has a 50.1% stake in the port). Summa has a 32.5% shareholding in FESCO.

Owners of NCC, Andrey Kobzar and Vitaly Yuzhilin are holding negotiations with Global Ports about selling the asset. Possible bidders, according to sources of the “Vedomosti” newspaper, are Summa and UCL Port.

A 20% stake in the NCSP at LSE costs $355 million; the cost of NCC’s assets is $1.4 billion, according to the materials prepared by Global Ports.

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