A massive $2.15bn port deal looks close to completion as Novorossiysk Commercial Sea Port (NCSP) approved the takeover of another Russian operation.
NCSP’s board has given the seal of approval for the huge deal to acquire 100% of Primorsk Trade Port, a deal mooted earlier this month.
One condition of the deal is that NCSP secures a bank loan for almost all of the purchase price with two compatriot banks clear frontrunners to provide the cash.
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