Share capital and management
The base company of the group is the Far-Eastern Shipping Company (FESCO; rus, Дальневосточное морское пароходство, r=Dal'nevostochnoye morskoye parokhodstvo). The company was founded in Vladivostok in 1880. FESCO is publicly traded as . Current shareholding structure is: Mr. Magomedov – 32.5%; entities controlled by Mr. Garber (is one of the controlling shareholders of GHP Group) – 23.8%, TPG – 17.4%, other shareholders/Free float – 26.3%. The chairman of the executive board of FESCO Transportation Group is Leyla Mammad Zada, the president is Alexander Isurin. On 13 December 2012, Summa Group and GHP Group indirectly acquired 49.99% and 23.75% of the shares of FESCO, respectively. The acquisition was funded by a mixture of debt and equity. In December 2012, TPG joined in Summa Group's investment in FESCO, as a result of which TPG has certain rights in respect of oversight of the FESCO business and an indirect economic ownership interest of 17.5% in the Group.Business
The majority of the company's operations are located in the Russian Far East. FESCO operations are handled by five divisions, namely Port, Rail, Liner and Logistics, Shipping, and Bunkering.Cooperation highlights and joint ventures
The 100% FESCO subsidiary Transgarant and Russkaya Troyka (50% joint venture with theGallery
See also
* MV Lyubov Orlova – ghost ship formerly owned by FESC.References
External links