Bid of Russian Sea Group for Last Government-owned Combine under extended Review by Anti-Trust Service
Russian Sea Group is interested in privatization of Arkhangelsk Trawl Fleet, a company with 20 fishing vessels and large cod and haddock quotas. Russian Sea has recently applied to Federal Antimonopoly Service asking for a permission to buy 100% of ATF. The permission has not been granted yet, according to http://www.megafishnet.com/.
The problem is that 60.94% of RS belongs to Cyprus registered RSEA Holdings Limited. This company belongs 50/50 to Maxim Vorobyov, RS founder and Volga Resources belonging to a Russian tycoon Gennady Timchenko.
ATF is one of the oldest fishing companies in Russia. It owns 20 vessels, quotas for cod, herring, mackerel, capelin, and large shore infrastructure. Total revenue in 2010 was RR 2.69 million, net loss RR 7.13 million. The company is to be privatized in 2012-2013 (most probably this year under the government's privatization plan of major government-owned assets).