Russian ministry chooses Sberbank CIB to organize NCSP sale

MOSCOW, Nov 29 (PRIME) -- Russia’s Economic Development Ministry has chosen Sberbank CIB to organize privatization of 20% in Novorossiysk Commercial Sea Port (NCSP), the ministry said in a statement on Tuesday.

Oksana Tarasenko, director of the ministry’s corporate management department, said that a corresponding ruling will be submitted for approval of the government soon.

Multi-industry holding Summa Group and oil pipeline monopoly Transneft own 50.1% in NCSP on a parity basis, while Transneft controls another 10.5% of shares. The Federal State Property Management Agency holds 20% of shares that are to be privatized, Russian Railways owns 5.3%, and the rest is free-float.

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