Evraz is selling its stevedoring company in the port of Nakhodka – Evraz NMTP.
The company has been looking for buyers of its terminals for a couple of years now. The port is a non-profile asset for Evraz, and its sale could decrease the company debt burden (net debt as of late June – $5.3 billion).
Evraz NMTP specializes in the transshipment of coal and ferrous metals, its capacities are 500-550 railroad cars per day.
In 2015 the company transshipped 9.2 million tons of cargo (6.2 million tons of coal and 3 million tons of metal). Its income reached 5.9 billion rubles, with net profits at 3.3 billion rubles (4.5 billion and 1.9 billion rubles in 2014 respectively).
Evraz estimated the price of NMTP at 4.5-5 of EBITDA, or $275-300 million. One of the possible buyers thinks the objective price is $261 million, but there are also offers of $290 million. (Ukrainian metal)
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