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PJSC 'Novorossiysk Commercial Sea Port' (NCSP)
NCSP and VTB have closed the deal on the sale of Novorossiysk Grain Terminal
25-Apr-2019 / 12:18 MSK
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Press Release
NCSP and VTB have closed the deal on the sale of Novorossiysk Grain Terminal
April 25, 2019
PJSC NCSP (LSE: NCSP, MOEX: NCSP) and VTB Bank have announced the closure of
the deal on the sale of all PJSC NCSP's shares in Novorossiysk Grain
Terminal LLC.
The deal was made on the 23rd of April 2019 as part of the creation of a
unified grain export operator in Russia.
VTB Group believes that grain export development in Russia has a great
potential, especially it appreciates the opportunities for further growth in
grain transshipment capacities through deep sea terminals. The purchase of
NGT LLC is an integral part of VTB Group's strategy on infrastructure
investments, which include various large transport and logistics
infrastructure facilities.
NGT LLC operates grain and oil seeds cargo, as well as provides services for
unloading of grain crops from railway cars and vehicles, storage and
preparation of ship batches. Cargo turnover of NGT LLC totaled 6.33 million
tons in 2018.
Transaction size in money terms is 35,500,000,000 (thirty-five billion five
hundred million) rubles, that is 28.9% of value of PJSC NCSP's assets. The
deal was approved by Board of Directors at the 18th of April 2019.
The results of the deal on the sale of NGT LLC have been taken into account
in the NCSP Group Development Strategy for 2024, the development of which
currently comes to an end.
NCSP Group is the largest port operator in Russia by cargo turnover. PJSC
Transneft is the controlling shareholder (62%) of PJSC NSCP.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as
GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP
Group consists of: PJSC NSCP, LLC Primorsk Trade Port, JSC Novorossiysk Ship
Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC
and LLC SFP.
ISIN: US67011U2087
Category Code: AGR
TIDM: NCSP
LEI Code: LEIA0010014976
Sequence No.: 8332
EQS News ID: 803353
End of Announcement EQS News Service
(END) Dow Jones Newswires
April 25, 2019 05:18 ET (09:18 GMT)
