RDIF, partners may buy 35–40% in Russia’s FESCO in 2017

MOSCOW, Oct 17 (PRIME) -- The Russian Direct Investment Fund (RDIF) and its partners are interested in buying 35–40% in Far Eastern Shipping Company (FESCO) and may close the purchase until the end of 2017, Ziyavudin Magomedov, owner of FESCO’s core shareholder Summa Group, told reporters on Tuesday.

“The issue is not about our stake, I mean that there are some of our shares there, but we – Summa Group – will remain a controlling shareholder. If we work hard, we may (close the deal until the end of 2017), because it largely depends on regulatory authorities as well. The package there is rather large, at the level of 35–40%,” he said.

In September, the Federal Antimonopoly Service’s Deputy Director Andrei Tsyganov said that the service had received an application from Dubai’s port operator DP World and the RDIF to buy a stake in FESCO.

Multi-industry holding Summa Group holds 32.5% in FESCO, while GHP Group has 23.8%, and TPG has 17.4%.

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