Corporate Communications

Russian government approves the tender for 55% of shares of OJSS “Vanino Sea Trade Port”

11 January 2013

According to resolution No. 2608-r dated 29 December 2012, the Russian government has approved the buyer and the selling price of shares of OJSS “Vanino Sea Trade Port” (Port Vanino) – which are 55% of its authorised capital and are state-owned.
On 7 December, VTB Capital announced the closure of the tender that determined the maximum sale price of shares of Port Vanino, which have been in Federal ownership. The maximum price of RUB 15.5 bn was offered by OJSS “Mechel-Trans”. The maximum price was more than 10 times higher than the minimum sale price that was set at RUB 1.5 bn.
A number of major companies representatives took part in the tender including: OJSS “Mechel-Trans”, OJSS “Mezhdurech’ie”, CJSS “Port Invest”, CJSS “Siberian Antracite”, OJSS “St. Petersburg Sea Port”, OJSS “SUEK”, LLC “En+ Port”.
In accordance with the Russian government resolution No. 190-r, issued on 14th February, CJSS “VTB Capital” was appointed as the sole organiser and executor on behalf of the Russian Federation of state order to sell the registered ordinary shares of Open Joint Stock Society “Vanino Sea Trade Port” in Federal ownership in the amount of 55% of authorised capital. The public stage of sale process of the state-owned shares of Port Vanino commenced on 28 September.

Alexei Yakovitsky, Global CEO at VTB Capital, said: "The acquisition of controlling stake in Port Vanino by a large private company is certainly a landmark deal for the Russian economy and an important event in the framework of the federal privatisation programme. VTB Capital, as the organiser of the tender has fully implemented all of its obligations to the government. The results of this tender are further confirmation of the high professionalism of our team."

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