Rosneft interested in blocking stake in Novorossiysk Port, prepared to bid
BUDYONNOVSK. March 5 (Interfax) - Rosneft is interested in the government's 25% stake in OJSC Novorossiysk Commercial Sea Port (NCSP) , the state oil major's chief executive, Eduard Khudainatov told reporters.
"I think that if Rosneft became a shareholder, this would be right and good for the company," Khudainatov said.
He said Rosneft is prepared to bid in an auction for the stake if one is called.
Deputy Prime Minister Igor Sechin has proposed that the government sell its 25% stake in NCSP directly to Rosneft.
NCSP is the largest port operator in Russia and the third largest in Europe by cargo turnover. NCSP is listed on the MICEX and its Global Depositary Receipts (GDR) are listed on the London Stock Exchange. Novoport Holding Ltd, the beneficiaries of which are Summa Group head Ziyavudin Magomedov and oil pipeline monopoly Transneft , owns 50.1% of NCSP.
