Norilsk Nickel will sell Archangelsk sea commercial port Abramov and Frolov

Moscow. December 16. The Board of Directors of MMC Norilsk Nickel approved the sale 74,78% of shares of OJSC “Archangelsk sea trading port”. The buyer will make the company Osoblanco Holdings Limited associated with Invest AG (manages the assets of the founders of Evraz Alexander Abramov and Alexander Frolov), one of the shareholders of MMC.

The amount of the transaction in the message is not named.

The package implementation is conducted in accordance with the strategy of Norilsk Nickel, which provides for gradual exit from non-core assets. At the same time, the company redistributes traffic in favor of a new transshipment terminal in Murmansk for the purpose of reducing operating cost for handling, said, “Norilsk Nickel”.

Archangelsk sea commercial port is a universal multipurpose transshipping complex for transshipment of all types of cargo. The port can handle up to 4.5 million tons of cargo per year. For 2014, the volume of transshipment amounted to 1.5 million tons.

In the spring of Norilsk Nickel said it plans to sell APMP by the end of the year.