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Is NCC Put up for Sale?

27.05.2013 16:32
Section: M&A

Businessman Andrei Kobzar and State Duma deputy Vitaly Yuzhilin put up for sale National Container Company (NCC), "Vedomosti" newspaper wrote on Friday referring to its sources.

According to the newspaper, the partners are in talks with Global Ports. Decisions about the size of the stake, the value of the transaction, and sales scheme had not been taken yet, the source said. The representative of Global Ports declined to comment. In addition to Global Ports, Summa group of companies and UCL Ports go after NCC, according to the sources. Officially, Summa and UCL Ports rebut the information that they are negotiating with the owners of NCC. NCC refused to comment.
According to one of the sources of the newspaper, the reason for selling the business is NCC’s high debt load - about $ 1 billion V. Yuzhilin intends to sell 75% of NCC, the source said. The representative of the Deputy denied that he was negotiating about the sale of port assets.

National Container Company the second largest (according to throughput) port container operator in Russia. Total throughput of NCC's terminals in 2012 amounted to 1.38 million TEU. In the first four months of 2013, the company handled 363,600 TEU. The financial results are not disclosed.

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