In August 2018, VTB Group acquired 22.25% of PJSC Novorossiysk Bakery Products (NCCP), the bank said. VTB received this asset in the ownership during the settlement of the debt, explained the representative of the bank
NCPR is one of the largest grain terminals in Russia. The controlling stake of 50.99% since March 2009 belongs to the United Grain Company (OZK), which is under the control of the state.
In the summer of 2011, two Cypriot companies - Belkarra Service Limited and Ivianto Services Limited - purchased approximately 29% of NCCP shares for approximately $ 45 million, and a year later Ziyavudin Magomedov's structure bought 50% minus 1 share of the OZK during privatization.
"Belkarra Service Limited" and "Ivianto Servicees Limited" acted in the interests of "Amount", several interviewees of "Vedomosti" told the market and confirmed the acquaintances of Magomedov. Ziyavudin Magomedov and his older brother Magomed are accused of creating a criminal community and especially large embezzlement of budgetary funds and since March 2018 are under arrest.
In December 2015, NCCP placed shares on the Moscow Stock Exchange, the seller was Belkarra Service Limited. After the transaction, Magomedov also had a share of 18.49%.
Since the third quarter of 2016, the company Ivianto Services Limited, with a share of 18.5%, has ceased to be reflected in NCCP's quarterly reports. And in the IV quarter of the same year VTB appeared as the owner of 22.25%.
Then the share was pledged for a loan in the form of a reverse repo transaction, VTB representative explained. The shares of Magomedov were pledged for a VTB loan in 2016, says a person close to one of the shareholders of NCCP. Then the bank opened two credit lines for the terminal: in January - by 1.4 billion rubles, in December - by 2.2 billion rubles., Follows from the quarterly reports of the NKCP. With debt servicing problems arose, the employee of the company-partner of NKHP knows. The representative of the bank does not comment on why there were problems and how much the debt was.
The total debt of the "Sum" group - about 500-600 million euros, it was required, in particular, to finance investments in Fesco, a person close to Ziyavudin Magomedov knows, and a source close to Fesco.
Now the share in the NKHP has passed into ownership, says the representative of the bank. The representative of "Sumy" confirms the transaction.
Capitalization of NCCP on the Moscow Stock Exchange at the close of trading on August 9 - 14 billion rubles. The cost of 100% NCCP may be 14-20 billion rubles., Sovekon's director Andrei Sizov estimates. It turns out that the market value of the share is 3.1-4.5 billion rubles.
VTB Group will try to sell this non-core asset on market terms, the bank's representative said. The asset may be of interest to a large grain trader, says Sizov: the demand for infrastructure has grown due to high yields and growing exports. In 2017, the transshipment of grain crops through the NCCP increased almost twice as fast as in 2016, to 6.1 million tonnes.
In 2017, Russia harvested 135.4 million tons of grain, this was the largest harvest in almost 40 years. This year the Russian Ministry of Agriculture expects a harvest of about 100 million tons. Due to high yields, the terminals have become popular and even increased the cost of transhipment services by about 15%, Sizov knows.