Temasek buys stake in FESCO
Temasek, the Singapore government’s investment fund, which owns a 66 percent stake in Neptune Orient Lines and APL, has purchased a 3 percent stake in Russia’s largest container shipping company, FESCO Transportation Group.
FESCO said several other large companies had purchased large stakes in the company including Deutsche Bank Asset Management and the European Bank for Reconstruction and Development.
Major shareholders as of Sept. 1 are:
' Industrial Investors Group, 53.81 percent.
' East Capital, 8.29 percent.
' Garant Investment Group, 7.84 percent.
' European Bank for Reconstruction and Development, 3.76 percent.
' Temasek, 3.14 percent.
' Genesis Investment Management Ltd., 1.72 percent.
' Deutsche Bank Asset Management, 1.66 percent.
' FESCO Stock Option fund, 2.78 percent.
' A free float of 17 percent.
FESCO President Evgeny Ambrosov said, “These changes in FESCO equity structure confirm the willingness of large institutional investors to commit significant funds to FESCO. For us the arrival of such long-term shareholders is a sign of support to FESCO development strategy and belief in the company’s strong potential.”
FESCO’s Far-Eastern Shipping Co. subsidiary is Russia’s third-largest ship-owning company and the largest non-oil cargo carrier, with a 670vessel fleet.
It has container services linking Russian ports in Europe and Asia with the United States, Canada, Southeast Asia, Korea, Japan, China, Vietnam, the Baltic states, Poland, Germany, Finland and other countries.