Russian Gov't mulls strategic investor for NCSP stake
The state's stake in Novorossiysk Commercial Sea Port (NCSP) could be sold to a strategic investor, RBC reports quoting First Deputy Prime Minister Igor Shuvalov.
The State Property Management Agency, which is the nominal holder of the state's stake, has been instructed to ascertain whether such a transaction could fetch the federal budget as many proceeds as a secondary public offering and to determine whether a potential buyer could be found, Shuvalov pointed out, adding that a number of companies, which are interested in improving sea port infrastructure, could be regarded as potential investors.
Shuvalov went on to say that the state's stake in NCSP would be sold anyway, although it remains to be seen how. In response to the question on whether investment company Summa, which already controls a 50.1% stake in NCSP on a parity basis with oil pipeline operator Transneft, could acquire this stake, Shuvalov said this move would require approval from antitrust authorities.
