Bloomberg News

Transneft Wants Rosneft to Be Partner in Port, Vedomosti Says

April 16, 2012

State-run OAO Transneft and OAO Rosneft asked the government to sell a 20 percent stake in OAO Novorossiysk Commercial Sea Port to Rosneft, Vedomosti reported, citing a letter from the companies to Prime Minister Vladimir Putin.

Transneft, which is already a shareholder in the port, doesn’t want privately help Summa Group, its partner in the port, to gain control, on the ground that it might be against Russia’s strategic interests, the newspaper said, citing the letter.

The state companies are also seeking to buy 5 percent of the port held by Russian Railways (RZHD), Vedomosti said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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