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FESCO companies consolidate blocking stake in TransContainer

30 December 2016
The stake in TransContainer (MOEX: TRCN) indirectly controlled by Far East Shipping Company (FESCO) (MOEX: FESH) has increased to 25.07% from 24.35%, TransContainer said in a statement.

The number of TransContainer global depository receipts (GDR) controlled by FESCO is unchanged at 20.596 million, while the number of shares has increased to 1.423 million from 1.323 million, according to the statement.

The change in the stake happened on December 20, TransContainer received the notification about this on December 29. Among the companies, whose shares are in free float, are Cyprus-based Halimeda International Ltd, Mosetra Investments Ltd, Valsta Ltd, Brigset Investments Ltd, Neteller Holdings Ltd.

Another statement said that Mosetra bought a stake, as a result of which Halimeda controls almost 25.01% of the charter capital of TransContainer, before this its stake was 24.83%. The number of GDR also were unchanged (more than 20.556 million), the number of shares rose from 1.395 million to 1.42 million.

FESCO is the parent company of the FESCO Transport Group, which is controlled by Summa Group and its partners. The Kommersant newpaper reported in the autumn that the Federal Antimonopoly Service (FAS) permitted Mosetra Investments Ltd, which is affiliated with Summa, to buy 0.18% of the shares of the railway operator, as a result of which the stake of this company and affiliated entities will exceed a blocking stake (it will reach 25.016%).

TransContainer owns and operates more than 66,000 high capacity containers and 23,000 flatcars to carry them, and has a network of terminals in Russia (at 45 stations) and Slovakia. TransContainer also owns 50% of Kedentransservice, which has 19 railway terminals in Kazakhstan. Unified Transport Logistics Company (UTLC), which is 99.84% owned by Russian Railways (RZD) (MOEX: RZHD), owns 50% plus two shares in TransContainer; and the Blagosostoyanie pension fund holds more than 24%.

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