Monday , 23 September 2019
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Russian ports operator Global Ports has confirmed it has held acquisition talks with the National Container Company (NCC), the owners of container terminals and St Petersburg-based inland container depots.

Global in talks on NCC terminal purchase

NCC’s owners, businessman Andrei Kobzar and Vitaly Yuzhilin, a member of Russia’s lower house of parliament, had put the business up for sale; it is believed that it is worth about US$1bn. NCC reported profit of US$79.7m and sales of US$253.3m for 2012.

Global has said that it was seeking to grow organically and by making acquisitions, and regularly reviews all sector opportunities.  Trading in its shares had been suspended due to reports of the potential acquisition.

(Source: Reuters)