Abramov and Abramovich increased their stake in Transcontainer to a blocking stake

Yenisei Capital of Alexander Abramov and Roman Abramovich increased their stake in Transcontainer to a blocking one. At the end of November this structure lost an auction for the sale of a controlling stake in Russia’s largest container transport operator

The Yenisei Capital Company owned by co-owners of Evraz Roman Abramovich #17 and Alexander Abramov #21 has increased its stake in Transcontainer from 24.74% to 25.1%. This is stated in the report of the operator of container transportations.

The increase of the share of the structure of the billionaire to the blocking share occurred on December 16. According to the source of RBC, close to “Yenisei Capital,” the acquisition of 50,000 shares was a “technical operation. VTB Bank, which owns 24.84% of the operator, acted as the seller.

At the end of November the company “Enisey Capital” lost the auction for the sale of the control stock of “Transcontainer”. The First Freight Company (Freight One) of Vladimir Lisin #1 also fought for this asset and was unsuccessful. As a result, the owner of 50% plus two shares of Russia’s largest container shipping operator was the group “Delo” Sergey Shishkarev, who offered 60.3 billion rubles, twice the starting price. In early December it became known that the state corporation “Rosatom” received 30% of the parent company of the group “Delo”.

After the purchase of control in Transcontainer, Shishkarev’s group must announce an offer to buy out the remaining shares from minority shareholders at the auction price. This means that Abramovich and Abramov’s structure can get 30.15 billion rubles or almost $500 million for 25.1%, according to RBC.

Earlier, Shishkaryov told Kommersant that the offer will be submitted in January. Shareholders will then have 70 days to accept it after that. “When I say that VTB could remain a shareholder of the group, the same applies to Yenisei Capital. If they want to develop the company together with us, why not look for additional synergies when entering new markets or on cooperation in the Far East? There are no initiatives so far,” Shishkarev said.

“Transcontainer is Russia’s largest container shipping operator, owning 27,800 fitting platforms and 74,100 containers. In 2018, the company’s IFRS net profit increased by 45.5% to 9.5 billion rubles on revenues of 76.9 billion rubles.

Leave a Reply