State property fund sells 25.5% of Sakhalin Shipping Co. for 406 mln rubles
MOSCOW. Sept 17 (Interfax) - The Russian state's 25.5% stake in OJSC Sakhalin Shipping Company (SASCO) was auctioned off on Tuesday for 405.77 million rubles, according to a statement issued by Russian Auction House, federal state property fund Rosimuschestvo's agent for the sale of state stock holdings.
There were two bidders: management company Regional Industrial Assets LLC and CJSC ORTEKS. ORTEKS won the auction. The starting price for the lot was 395.77 million rubles. There was one bid raise.
According to the SPARK-Interfax database, ORTEKS' founders are two private individuals, Galina Yefremova and Artyom Belyayev.
Sakhalin Shipping Company is the only outfit that does year-round transportation from the ports of De-Kastri, Vanino, and Sovietskaya Gavan. It has more than twenty freight-hauling ships in addition to ice-breakers, tugboats, and other auxiliary vessels. The company also transports rolling stock between the Sakhalin port of Kholmsk and the mainland Vanino, and it ferries cargo coastally and cross-border.
The company's sales revenues, according to SPARK-Interfax, weighed in at 4.8 billion rubles in 2012, its net profits at 217 million rubles. In addition to the state's former 25.5% holding, stock interests of not more than 20% are held by private investors and legal entities.
