FIRST Quantum Group and Andrey Kobzar, joint owners of Russia's National Container Company, have announced the sale of their 50 per cent stake holding in Novorossiysk container terminal NUTEP for US$115 million.

"My investment in National Container Company has proven to be successful. I am satisfied both with the company's operational results and its long-term strategy profitable for the investors," said Andrey Kobzar.

Said NCC president Alyona Ashurkova: "We can affirm that today the container market has fully overcome the negative effects of the crisis and is showing a positive dynamic, and an increase of all the key economic indicators. This enables us to develop and realise a long-term company's strategy according to our priorities."

The external investor in NUTEP, which is capable of handling 250,000 TEU annually, is believed to be the Delo Group in a deal that would raise the group's equity interest in the container terminal to 100 per cent.

According to a report by World Cargo News, Delo plans to sell NUTEP to Novorossiysk Commercial Seaport (NMTP), "allowing the latter to consolidate container handling in Russia's biggest sea port under its successful NLE (Novoroslesesport) banner," it said.

The report also pointed out that in this context it may be of significance that mergers and acquisitions specialist Pyotr Maximov has been appointed vice president, legal and corporate, of NMTP group.