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Watchdog allows Mecheltrans to acquire seaport

16:02 21/03/2012

MOSCOW, March 21 - RAPSI. The antimonopoly service has allowed Mecheltrans to acquire a 100 percent stake in the Vanino seaport, a major seaport in Russia's Far East, the service reported.

The auction of the 73-percent stake in the seaport was held on May 19, 2011. There were 14 bidders, including Oleg Deripaska's En-Group and Vladimir Lisin's UCLH.

However, the little-known Seltekhstroy eventually won the bid, offering 10.8 billion rubles ($354 million), although the starting price was 934 million rubles ($30.6 million). The successful bidder made a 93.4 million ruble ($3.07 million) down payment, but later failed to pay the entire sum by the June 24 deadline. The auction was consequently canceled and Seltekhstroy forfeited its deposit. However, Rosimushchestvo later decided to sue the failed winner, seeking to recover 300.46 million rubles ($9.8 million) from Seltekhstroy for disrupting the auction.

Vanino is the largest stevedoring company in the Khabarovsk Territory. It provides cargo handling and freight forwarding services. The government holds a 55-percent stake in Vanino. Rusal, a leading aluminum producer, has a 20-percent stake in the seaport.

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Watchdog allows Mecheltrans to acquire seaport

16:02 21/03/2012 The antimonopoly service has allowed Mecheltrans to acquire a 100 percent stake in the Vanino seaport, a major seaport in Russia's Far East.
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