Global Ports reduces stake in Finnish JV to 50%, swapping 25% for stakes in Yanino, Moby Dik terminals

MOSCOW. Dec 30 (Interfax) - Global Ports Investments PLC has entered into binding agreements with France-based CMA Terminals on a cash-free share swap, the group reported.

"[I]n exchange for 25% of Multi Link Terminals Ltd Oy, Finland, the Group will receive 25% of CD Holding Oy, Finland, and 25% of Multi Link Terminals Ltd, Ireland, which own Yanino Logistics Park (LP) and Moby Dik (MD) respectively," the company said.

"This will allow the Group to concentrate its full control over Russian terminals and to ensure its flexibility in creating value on rapidly changing Russian stevedoring market. The Group's share in Finnish Ports will decrease from 75% to 50%," Global Ports said.

Global Ports' Finnish terminals are managed by Multi-Link Terminals Oy, a joint venture between Global Ports and CMA Terminals. The Yanino terminal in Leningrad Region and Moby Dik terminal in Kronstadt are 75% owned by Global Ports and 25% by CMA Terminals.

The Delo Group of Sergei Shishkarev and Rosatom owns 61.5% of Global Ports. Ilibrinio Establishment Ltd and Polozio Enterprises Ltd, the former owners of NKK, each own 9% of Global Ports and the company's free float is 20.5%. Trading of the company's Global Depositary Receipts on the London Stock Exchange has been suspended.