"Stroytransgaz" leads from the sale of non-core assets of 14 billion rubles

JSC "Stroytransgaz", one of the largest service companies in Russia, bailed out from the sale of non-core assets of 14 billion rubles, the head of the "Strojtransgaza/" Sergei Makarov in an interview with the newspaper "Vedomosti".

"We now have is a good way to eliminate neprofilej. We sold the building, the shopping complex in Sochi, have concluded a deal to restructure the Algerian project and another of a sizeable asset-"Uralneftegazproma". Until the end of the quarter, we hope this deal close. Implementation of this programme will enable us to reduce our debt, "said Makarov.

Speaking on Algerian project, he noted that "Stroytransgaz" long is the implementation of a joint venture with "Rosneftû" and the Algerian company "Sonatrak", which was created for exploration and exploitation of hydrocarbons in Algiers on the "block 245-South". "But until the consent of the parties, we cannot sell its share. In order not to delay the deal, we have provided this asset on a separate project for us-controlled company, which received financing repaid us for our investments in JOINT VENTURE (about 6 billion rubles), "the head of the Board of the company.

Makarov reported that in 2013, the "Strojtransgazu" to pay off bonds to 5 billion rubles

"The main repayment will be in the year 2013. I.e. we have a very comfortable timetable. No overdue obligations we have, but the amount of loans large enough. Our plan is to reduce this figure up to secondary industry standards: somewhere in the 30% of revenue ", he explained.

Talking about plans for mergers and acquisitions, the Chairman noted that the company till the end of January, plans to conclude a deal on the acquisition of the blocking package with OJSC "SC Bridge" involved in the construction of roads, railways, airports, underground, hydraulic structures and other infrastructure.

In addition, a transaction with the company, ARX, DIRECTEUR, running on the Moscow market infrastructure construction.

"The first part of the transaction to acquire the blocking package ARX, DIRECTEUR closed at the end of last year. The next phase will be implemented over a three-year period, subject to certain conditions, which should happen in the future. At this stage very early to talk about the ultimate price. The deal is complex, otlagatelnaya, at each stage it would be a market evaluation. Russian legislation does not provide possibilities for concluding such deals, so we have to decorate all of British law ", said Makarov.

"Stroytransgaz" combines the construction, engineering, industrial, oil and financial organizations. Gennady Timchenko structure currently consolidated 80% shares of the company.

Topic: JSC "Stroytransgaz", OJSC "SC Bridge", "Vedomosti", "Sonatrak", "Strojtransgazu", JOINT, VENTURE, ARX, DIRECTEUR