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

MANews-(C)2009-2010

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

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Publication:M & A Navigator
Date:Jan 28, 2010
Words:138
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