Russian pipeline monopoly Transneft has finalized deals allowing it to take over the country's two largest ports - Novorossiysk on the Black Sea and Primorsk on the Baltic 's in line with Moscow's plans to win back control of key export outlets. Novorossiysk Commercial Sea Port (NC- SP) revealed late Friday it had bought 100% of Primorsk Commercial Port (PCP), the company that operates Russia's flagship Baltic port, from Omirico. The latter firm is owned 50-50 by Transneft and investment holding Summa Capital, which is controlled by Dagestan billionaire Ziyavudin Magomedov. NCSP paid $2.153 billion, in part by using a $1.95 billion seven-year loan made by state Sberbank last year (IOD Dec.14,p10).
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