Russia to privatize Murmansk, Vanino ports, finish pre-sale preparation of NCSP by end-year
MOSCOW. Oct 25 (Interfax) - Russia plans to sell the state-owned stakes in OJSC Murmansk Commercial Sea Port and OJSC Vanino Commercial Sea Port , as well as finish the pre-sale preparations of the government stake in OJSC Novorossiysk Commercial Sea Port (NCSP) , by the end of the year, Economic Development Minister Andrei Belousov said at a government meeting.
"The bank UBS has been brought in to organize the sale [of NCSP], but there is still not full clarity in the economy of this asset and in cash flows. We will need to finish performing the relevant analysis," he said.
OJSC Sovcomflot (SCF) and OJSC Arkhangelsk Trawl Fleet (ATF) will be privatized in 2013, Belousov said. SCF's privatization might be landmark for Russia.
"If the most significant privatization event of this year was Sberbank of Russia's privatization, next year it will be SCF's initial public offering (IPO). This will be the biggest deal, which we believe should serve as a landmark for Russian privatization in general," he said.
The Russian government owns 25.5% of Murmansk Commercial Sea Port, 20% of NCSP, 55% of Vanino Commercial Sea Port, 100% of SCF and 100% of ATF.
