Federal Property Agency revising deadline for privatization of Murmansk Marine Fish Port

June 18, 2007 09:18

Officials of Russia's Federal Property Agency has reportedly promised Vladimir Sokolov, general director of Murmansk Marine Fish Port, not to hurry with the sale of the company's shares in 2007, though no official documents have been provided to confirm the promise.

During his recent trip to Moscow Sokolov held talks with members of the company's board of directors and head of the Federal Property Agency. In the course of the talks Sokolov was assured by the agency's leaders that in 2007 shares of Murmansk Marine Fish Port would not be sold, probably until 2009. However, no official confirmation was given on the matter.

Earlier Russia's PM Mikhail Fradkov signed an order approving amendments to Part II of the draft plan (program) of privatization of the federal property for the year 2007 and main trends of federal property privatization in 2007-2009. The added list of entities to be privatized includes 100% of shares of OAO Murmansk Marine Fish Port (plc). The company's general director Vladimir Sokolov commented on the development saying that the government should better wait till 2009 before putting up the port's shares for sale. Now 100% of the port's shares (4,752,760 shares with a face value of RUR100.00 each) belong to the state and Sokolov thinks that the company's assets can be increased in the coming two years in order to raise the market price of the above shares.

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