Russian ministry starts choosing consultants for NCSP sale

MOSCOW, Oct 14 (PRIME) -- Russia’s Economic Development Ministry is choosing investment consultants for the sale of a 20% stake in Novorossiysk Commercial Sea Port (NCSP) in 2017, the ministry said on Friday.

“The chosen investment consultant will work on the structure, way and parameters of the deal, as well as exact terms of its implementation,” Oksana Tarasenko, director of the ministry’s corporate management department, said.

Multi-industry holding Summa Group and oil pipeline monopoly Transneft own 50.1% of the company 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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