Michail Il’in commented on the situation with the “Sea fishing port” for Business FM

1 February 2013
Saint-Petersburg’s "Sea Fishing Port" was transferred to a core fish processing company.

The “Delovoy Peterburg” reports that the "Sea Fishing Port" was transferred to the “Ryboobrabatyvayuschii Combinat №1”. The latter refused to comment on the issue herein.

According to the information published on the transport portal of Saint-Peterburg, "Sea Fishing Port" OOO (LLC) located at Ugol’naya harbor provides forwarding, logistics, warehousing, stevedoring and other port services. In its turn, "Sea Fishing Port"OOO (LLC) conducts cargo handling operations, forwarding and storage operations, as well as dive and tow services. Dmitry Kumanovskii, head of analytics department of the “Lenmontazh” investment company, mentioned that the “Ryboobrabatyvayuschii Kombinat №1” shows growth in the manufacturing of fish products. Moreover, it is a valuable asset as it provides production transit services. Thereby, “ROK-1” could be qualified as a strategic investor. According to Kumanovskii, the “Ryboobrabatyvayuschii Kombinat №1” is one of the largest canned fish manufacturers and it executes large volume of cargo transit. Experts say that after acquisition of the"Sea Fishing Port", “ROK-1” can reach synergies by control of transshipment price. Altogether, the company is interested in development of this asset.

Last September, media reported that "Sea Fishing Port" was close to bankruptcy.Particularly, it was mentioned, that the founder of the "Sea Fishing Port" OOO (LLC), the so-called “red director”, had been the owner of the company till 2006. In 2007, he sold the “Ryboobrabatyvayuschii Kombinat №1” to the present owner of the company and his partners. Afterwards a struggle for control of the company occurred.

Mikhail Il’in, attorney at law and corporate conflicts specialist at the S&K Vertical law firm, says that in Russia, struggle for asset is primarily taken place in bankruptcy context. Situation with the "Sea Fishing Port" is common and does not differ from lots of corporate conflicts in Russia. “I wouldn’t say that this is a unique situation. However, I could say that this situation is complex,thus lots of corporate conflict instruments are used. I admit that this is a serious struggle”, – says Il’in.

Representatives of the “Sea Fishing Port" LLC disclaim the information on its transfer to the“Ryboobrabatyvayuschii Kombinat №1”. Meanwhile, we failed to get comment of the management of the"Sea Fishing Port"

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