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MarketsInsider 25.04.2019
MarketsInsider: NCSP and VTB have closed the deal on the sale of Novorossiysk Grain Terminal

PJSC NCSP (LSE: NCSP, MOEX: NCSP) and VTB Bank have announced the closure of the deal on the sale of all PJSC NCSP's shares in Novorossiysk Grain Terminal LLC.

The deal was madeon the 23rdof April 2019as part of the creation of a unified grain export operator in Russia.

VTB Group believes that grain export development in Russia has a great potential, especially it appreciates the opportunities for further growth in grain transshipment capacities through deep sea terminals. The purchase of NGT LLC is an integral part of VTB Group's strategy on infrastructure investments, which include various large transport and logistics infrastructure facilities.

NGT LLC operates grain and oil seeds cargo, as well as provides services for unloading of grain crops from railway cars and vehicles, storage and preparation of ship batches. Cargo turnover of NGT LLC totaled 6.33 million tons in 2018.

Transaction size in money terms is 35,500,000,000 (thirty-five billion five hundred million) rubles, that is 28.9% ofvalue of PJSC NCSP's assets.The deal was approved by Boardof Directorsat the 18thof April 2019.

The results of the deal on the sale of NGT LLC have beentaken into accountin the NCSP Group Development Strategy for 2024, the development of which currently comes to an end.

NCSP Groupis the largest port operator in Russia by cargo turnover.PJSCTransneftis the controlling shareholder (62%) of PJSC NSCP.

NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP Group consists of: PJSCNSCP, LLCPrimorskTrade Port, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLCandLLCSFP

 

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