Transneft has tripled the price of its stake in KHL

by time news

For the second time Transneft put up for sale 11.8% in the authorized capital of the Continental Hockey League (KHL). The asset will be sold at an open auction. From the materials of the company it follows that the initial price of the asset is set at 295.7 million rubles.

This is almost three times more than the amount at which the company’s share in the KHL was estimated in 2013. Then the company tried to sell its share in the KHL under a government directive for 100 million rubles. Igor Demin, an advisor to the president of Transneft and a press secretary of the company, explained to Interfax that the cost changed after the study of an independent appraiser, “which gave such a positive dynamic.”

Applications from applicants are accepted from November 3 to December 4, 2017.The Company will consider them on December 13, and on December 14, electronic trading will take place. The minimum auction step is 100,000 rubles. The results of the tender will be announced on December 21. The amount of security for the application for participation in the auction is 3 million rubles.

Transneft was one of the founders of the league. While trying to sell the stake in the spring of 2013, the company received applications from the league itself, from Rosneft and from the Lev team from Prague. But Transneft changed its mind about selling the asset at a loss and declared the tender void. Six months later, in October 2013, the president of the company Nikolai Tokarev explained that at that time the 11.8% stake in KHL no longer cost as much as the company bought it for, the shares fell in price and Transneft could not sell it at a loss. …

The Kontinental Hockey League was established in 2008. It has 27 teams from seven countries – Russia, Belarus, Kazakhstan, China, Latvia, Slovakia and Finland. Even before the first tender, Igor Demin said that the company has a stake in the KHL, but there is no team of its own that could play in this league. Therefore, both the KHL and other members of the league asked Transneft to sell these shares.

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