Printer Friendly

First Quantum looking to take FESCO's 50% of NCC.


Russian container shipping company FESCO (RTC:FESH) may get an offer for its 50% holding in National Container Company, or NCC, from oil trader First Quantum, local business daily Kommersant wrote on Thursday, citing a manager from Russia's bank Sberbank (RTC:SBER).

Tatyana Sakharova, manager at Sberbank's lending department, told Kommersant that First Quantum, the owner of the other 50% in NCC, is looking to get a USD440m (EUR314m) loan for acquisitions.

Sergei Generalov, controlling FESCO, however, denied any interest in selling the NCC stake and described the price mentioned as derisory, the paper reported.

Country: Russia

Sector: Water Transport

Target: National Container Company

Buyer: First Quantum Petroleum

Vendor: FESCO Plc

Deal size in USD: 440m

Type: Corporate acquisition

Status: Speculation

Comment: FESCO's owner says the stake is not for sale, the price is derisory

COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Jan 28, 2010
Previous Article:Allianz in "strong position" for acquisitions after careful consideration.
Next Article:CEO says Thomson Reuters eyes small buys this year.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters