Agrinews

April 22, 15:19 Source: APK-Inform Views: 394

Government of Russia to divide the NCSP

On April 18, 2014 there was declared that the Government of Russia agreed to divide the Novorossiysk Commercial Sea Port: Transneft will get all the oil loading terminals, and the Summa Group will be the major shareholder of the port.

After the separation the state's holding (20%) will be sold to the Summa Group with the “golden share” maintenance. Thus, the Summa Group to become the controlling shareholder of the NCSP – its share to reach 63.3% as opposed to 27.7%.

Transneft with the NCSP's assets will incur the part of the port's debt (1.9 bln USD in the end of 2013) and pay off 0.7-1 bln USD.

Remind, that in the end of 2013, the President of the oil-transport monopoly, Nikolay Tokarev proposed the President of Russia to devide the NCSP's assets between the stated companies in order to coordinate the single strategy on the assets development.

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