Deal to sell port Bronka closed by Federal Property Management Agency
Managing Company Fenix sold to NKK-Logistik for RUB 10.9 billion
The deal to sell 100% of the authorized capital of Saint-Petersburg based Fenix LLC, operator of Multipurpose Sea Cargo Complex Bronka (MSCC Bronka) in Saint-Petersburg to Moscow based NKK-Logistik LLC has been completed by the Federal Property Management Agency in full and within terms set by the Government of the Russian Federation, the Agency told RBC Petersburg.
According to the publication, the cost of Fenix’ assets is RUB 22.3 billion including RUB 17 billion of fixed assts, as stated in the company’s recent reports.
RF Government earlier approved (Order No 629-r dated 18 March 2023) the sale of 100% of the authorized capital of Fenix LLC to NKK-Logistik LLC for RUB 10.9 billion, IAA PortNews reported earlier. The Federal Property Management Agency was to ensure the conclusion of a purchase and sale agreement with the buyer within a month.
According to data from open sources, NKK-Logistik was registered in September 2021, its authorized capital is RUB 3.5 million. The main activity od the company is freight transportation by railway transport. 80% of the company's share is owned by NKK LLC (National Cartographic Corporation LLC), 20% - by Alexey Raspopov, General Director of the company. In 2021, the revenue of NKK-Logistik totaled RUB 946 million, net profit – RUB 172 million.
The project on construction of MSCC Bronka was implemented through private-public partnership. The facility was put into operation in December 2015. The scope of private investments made by Fenix LLC (owner and operator of port Bronka) including borrowed funds totaled about RUB 25 billion with additional RUB 16.2 billion allocated by the federal budget.
Before 2017, MSCC Bronka was owned by holding Forum held by Dmitry Mikhalchenko who was accused of corruption. In February 2022, RF Government published a decree on handling over 100% of the federally owned MSCC Bronka to State Corporation Rostec. The Federal Property Management Agency was assigned to carry out the change of ownership within a 12-month period.
In February 2023, Aleksey Polishchuk, Director of the Second Department of the CIS Countries, said that Russian authorities were considering the transfer of MSCC Bronka to Belarus. In March 2023, Belarus' Transport and Communications Minister Aleksei Avramenko said that the Republic of Belarus was set to complete the purchase of Bronka in 2023.
Bronka is the only deep-water terminal in Great Port of Saint-Petersburg able to accommodate vessels of up to 347 meters in length, up to 50 meters in width and up to 13 meters in draft. As of today, MSCC Bronka is able to handle about 1.9 million TEUs and over 200,000 units of vehicles and special equipment per year.
