Oil and Gas, Kolmar

Gunvor returns Russian.

Andrey Bokarev got another asset of the trader.
Speculation that the assets of oil trader Gunvor, the share in which Gennadiy Timchenko sold Swedish partners a day before the introduction of the US sanctions against the businessman, will stay long under foreign control is confirmed. Following "Kolmar" Gunvor sold control of oil product terminal "Ust-Luga Oil" to the structure of businessman Andrey Bokarev. He began working with Gennadiy Timchenko even before the sanctions, becoming in 2012 the owner of the railway operator "Transoil". But the terminal was the largest deal in the history of this partnership - analysts estimate the share in it at 70 billion roubles.

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Timchenko has announced plans to sell its stake in "Kolmar" to the Chinese.

Volga Group of the Russian billionaire Gennadiy Timchenko plans to sell its stake in the coal company "Kolmar" to investors from China, "Interfax" informs.
"I'm waiting for the Chinese", - Timchenko stated in response to a question about the possible sale of his stake in "Kolmar". The billionaire added that the minority owners of "Kolmar" might also sell their shares to the Chinese.

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Gunvor sells 30% of coal company Kolmar

The buyers are the structures of Andrei Bokarev and Iskander Makhmudov, major shareholders of UGMK. After the sale of the asset, the Volga Group of Timchenko will still have 30%. Pronedra previously reported that within balancing the portfolio of its assets, Gunvor planned to get rid of Russian companies.

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Gunvor is selling some of its Russian assets but its not easy to find buyers.

But no one so far has offered to buy them.
One of the world's largest traders - Gunvor, founded by Gennady Timchenko and Thorbjørn Tornquist, wants to get rid out of some of its Russian assets. Although Mr. Timchenko has sold his stake in the company, it tries to reduce risks in the eyes of creditors and counterparties. The sources of "the Kommersant" believe that Mr. Tornquist also needs money for a settlement with the former partner. But it will not be easy for Gunvor to get rid of its Russian assets.
The Swiss trader Gunvor, the co-owner of which until March was Gennady Timchenko, who came under the US sanctions, is looking for buyers for its Russian assets, The Financial Times reported - this should reduce the risks of the company in the eyes of its Western creditors. Gunvor clarified: the company "is in the process of rebalancing its global portfolio that includes both purchases and sales". "Since a significant amount of our investments are in Russia, in the future Gunvor will consider the partial sale of some of these assets", - the company explained. They do not expect that this will affect the Gunvor trading in Russia, the country "remains a significant and important supplier of the energy resources". However, according to the sources of "the Kommersant" in the market, this is not so: in 2013 Gunvor exported about 4 million tons of oil, but it has bought only 1.5 million tons since the beginning of 2014.

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New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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