Ziyavudin Magomedov lost the battle for "Transcontainer"

Ziyavudin Magomedov's "Sum" group, who is in jail, is ready to abandon the creation of a national container operator, which the billionaire dreamed of since 2012. Fesco, which is controlled by it for a third, is looking for a buyer for a blocking stake in TransContainer.
08.06.2018
Forbes
Origin source
Sumyvudin Magomedov's group Sum (together with his brother Magomed was arrested in late March) is ready to sell 25.07% in the operator of container transportations Transcontainer, Kommersant reported, citing sources. The bids are collected by the Fesco group, in which "Summa" owns 32.5%. The most likely buyer of the package, whose value is estimated at 16 billion rubles, are the structures of Roman Abramovich and Alexander Abramov, as well as UCL Holding Vladimir Lisin.

The stake in Transcontainer belongs to Summa since 2012 - then Magomedov Holding bought a package in the Fesco Group. Since then, Magomedov has not abandoned attempts to create a national container operator based on a transport company and through synergy with Fesco. But for this it was necessary to buy out a controlling stake in TransContainer from another shareholder, RZD. The leadership of the railway monopoly has never been enraptured by the idea of ​​Magomedov. Even the resignation of Vladimir Yakunin and the letter that Magomedov wrote to Vladimir Putin in May 2017 did not help. The businessman asked the president to support the sale of the "Sum" of control in the "Transcontainer" and promised, through integration with Fesco and NCSP, to create a multiplier effect for the economy of 560 billion rubles. In RZD immediately opposed the ideas of Magomedov, seeing in it the risks of monopolization and recalling Fesco's financial problems.

Nevertheless, the privatization of Transcontainer will take place sooner or later: in the past year, profile ministries commissioned by Putin gave their positive conclusions on this score. But in December 2017, Magomedov had a new competitor: Yenisey Capital, controlled by Millhouse Abramovich and Invest AG Abramov, bought 24.5% of Transcontainer from Blagosostoyaniye NPF. "Buying Magomedov's stake in the operator is a logical step for Abramov and Abramovich, who have already entered this business and probably want to increase their share," says the Forbes source in the transportation market. In favor of this version, says that Vyacheslav Saraev, close to the structures of Abramov and Abramovich, can take the post of general director of Transcontainer. At the same time, UCL Holding Vladimir Lisin, who is a profile investor, as well as Sergey Shishkarev's "Delo" group, about their interest in purchasing the stake from the NPF "Blagosostoyanie" in August 2017, wrote "Vedomosti".

Together with the purchase from Fesco of the shares of Transcontainer, the new owner will also receive obligations to VTB, which has a 24.1% stake. They became collateral for a loan of $ 150 million, which the company attracted in 2017 after defaulting on eurobonds.

The package of Transcontainer is the first asset that Summa decided to sell after the arrest of its shareholders. Just a few weeks before their detention, it became known that the group was leaving the Novorossiysk Commercial Sea Port, where it owned 50.01% of shares on parity terms with Transneft. As a result of the transaction, this whole package was to be transferred to Transneft. But after the arrest of the brothers Magomedov, the deal fell through.

Tver regional court on March 31 decided to arrest Ziyavudin Magomedov and his brother, ex-senator from the Smolensk region Magomed Magomedov for two months. Together with them, the head of the Intex company included in Summa, Artur Maksidov, was taken into custody. The investigation suspects all three of the commission of a crime under article 210 of the Criminal Code of the Russian Federation (organization of a criminal community). In the case of proof of guilt, they face up to 25 years of colony. The reason for the arrest was the theft of 752 million rubles in the construction of the Arena Baltika, in which law enforcement authorities suspect Magomedovs.