22 Aug 2023 16:02

Russia's federal property agency sells small state-owned stake in Novoship following many attempts

KRASNODAR. Aug 22 (Interfax) - Russia's Federal Property Management Agency (Rosimuschestvo) has sold the state-owned stake in PJSC Novorossiysk Shipping Company (Novoship), part of the Sovcomflot Group , at auction in the ninth attempt, RTS-Tender, the e-platform that organized the auction, said in a statement.

According to RTS-Tender, Ruslan Miftakhov was the winner and the sole participant in the e-auction, having bid 3.28 million rubles for the stake.

Rosimuschestvo's 40,000 shares in Novoship, or 0.0127% of the charter capital, were auctioned. The initial sale price was 4.1 million rubles, the step down was 410,000 rubles, and the deposit totaled 820,000 rubles.

Rosimuschestvo had previously attempted to auction off the state-owned stake eight times in 2021-2023, with all auctions having been invalidated owing to the lack of applications. The starting price of the stake was 4.3 million rubles the first three times. The starting price was then reduced to 4.1 million rubles when bidding was announced for the fourth time.

According to the Unified State Registry of Legal Entities (USRLE), Miftakhov owns several companies in Bashkiria, namely Bashmineral LLC, which was established in September 2022, and develops gravel and sand pits and extracts clay and kaolin; and Belaya LLC, which is engaged as travel agencies.

Novoship is Russia's largest shipping company on the Black Sea, according to its website.