Delo Group bought Global Ports

"N-Trans" came out of the port holding.
Nikita Mishin, Konstantin Nikolayev and Andrei Filatov decided to sell their stake in the leading operator of container terminals in Russia Global Ports. The Buyer of 30.75% of the shares of the port operator, owned by Transportation Investments Holding Ltd (N-Trans), was the Sergei Delishov group "Delo". The amount of the transaction is unknown, according to the London Stock Exchange, the package is estimated at $ 261 million.

The group of companies "Delo" Sergey Shishkarev signed an agreement on the acquisition of 30.75% of shares of Global Ports owned by Nikita Mishin, Konstantin Nikolayev and Andrey Filatov through Transportation Investments Holding Ltd ("N-Trans"). Closing of the transaction is expected in April, after passing all the approvals and approval of the competent authorities. According to the London Stock Exchange, where Global Ports Investments is traded, the company's capitalization on Tuesday was $ 774 million, thus the sold stake is estimated at $ 261 million.

In addition to Russian shareholders, 30.75% of the company is owned by the Danish conglomerate A.P. Moeller-Maersk A / S through APM Terminals B.V., another 9% - from Ilibrinio Establishment Limited and Polozio Enterprises Limited, free float - 20.5%.

As a representative of "N-Trans" told Kommersant, the shareholders intend to send the received funds to implement projects in various sectors. For example, Mr. Filatov plans to invest in a project to develop a gas field in Uzbekistan (more on this project, "Kommersant" reported on November 30). The shareholders decided to focus on other projects by conducting Global Ports through a holistic investment cycle: collecting assets from scratch, investing in construction and reconstruction of terminals, entering the public international market, arranging long-term financing, attracting a strategic partner, explained in N-Trans. "The sale of a stake to another strategist is a natural link in the chain of these events," the company noted. Also, a representative of N-Trans added that the shareholders do not have a plan to exit from other transport assets. In addition to Global Ports, Andrei Filatov, Konstantin Nikolaev and Nikita Mishin hold stakes in a major railway carrier Global Trans. Also, Mr. Filatov owns 7% of Gennady Timchenko's company Transoil.

Global Ports Investments is the leading operator of container terminals in Russia. The company's management includes five container terminals - First Container Terminal, Petrolesport, Ust-Luga Container Terminal and Moby Dick in the North-West, East Stevedoring Company in the Far East, and two container terminals in Finland - Multi -Link Helsinki and Multi-Link Kotka. In addition, Global Ports owns 75% of the Yanino logistics park and a 100% dry port of Logistics-Terminal near St. Petersburg (the TransContainer blocked the purchase of the terminal by the FAS earlier last week, for details, see "Kommersant" from 7 December). Another group owns 50% in the Estonian oil product terminal AS Vopak E.O.S.

According to IFRS, in the first half of 2017 net loss of Global Ports reached $ 11.9 million against profit of $ 113.4 million. Revenue fell by 0.8% to $ 162.5 million, EBITDA decreased by 12.8%, to $ 97 , 3 million Net debt - $ 32.3 million. As explained in the report, the decrease in EBITDA is due to the reduction in revenue on TEU and the impact of the appreciation of the ruble on the main costs of the group. According to the data for the first half-year, the aggregate container turnover of the Russian sea terminals of the group decreased by 3.5%, to 670 thousand TEU.

Rumors on the market about the sale of shares by shareholders of Global Ports have been going for a long time. So, one of the potential interested people was called ex-deputy of the State Duma and co-owner of the National Container Company, which entered in 2013 in Global Ports, Vitaly Yuzhilin.

The transport-logistic holding of Sergey Shishkarev originates from the forwarding company Delo, founded in 1993. The group includes the stevedoring segment, which includes the holding company LLC Deloborts and the marine agency Delo, the transport and logistics container operator Ruscon; shipyard "Alexino Port Marina", yacht club "Russian Sea", NovomorNIIproekt, railway segment (JSC "Transport Corporation", owning tanks and container platforms), 50% of the grain trader "Mirogroup Resources". The key asset of the Delovport stevedoring segment includes Novorossiysk terminal NUTEP, bunkering TOS, grain terminal KSK. Consolidated revenue Deloborts in 2016 - 7.8 billion rubles. Throughput of terminals for January-September increased by 21%, to 5.2 million tons, the main drivers of growth were containers and grain.

Previously, the group "Delo" was called one of the contenders for the purchase of a controlling stake in NCSP and "Transcontainer."