Sberbank CIB selected as investment consultant on privatization of 20-pct share in Novorossiysk Commercial Sea Port
Ministry of Economic Development of the Russian Federation says it has completed the process of selecting an investment consultant for privatization of 20% of Novorossiysk Commercial Sea Port shares (NCSP PJSC).
“Under the order of RF Prime Minister Dmitry Medvedev to prepare proposals to the RF Government on the sale of 20-pct share in the authorized capital of Novorossiysk Commercial Sea Port PJSC, the Ministry of Economic Development organized a process to select legal entities for arranging the sale of federally owned shares of NCSP PJSC”, says the Ministry’s statement. The selected company is Sberbank CIB CJSC.
The Ministry of Economic Development is only in charge of selecting an agent.
According to Oksana Tarasenko, Director of the Ministry’s Corporate Management Department, the proper document will be submitted to the Government in the nearest future.
The proposals were mailed to the interested banks the list of which was approved by RF Government Decree dated 25.10.2010 (No 1874-r).
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP Group cargo turnover in 2015 totalled 139.7 million tonnes. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.
Most of NCSP Group’s shares are held by Summa Group and Transneft (50.1%), Rosimushchestvo (20%), Russian Railways (5.3%) and Transneft’s subsidiary Transneft-Service (10.5%).
