Majority stake in FESCO for sale as biggest shareholder sentenced to jail

Posted on December 12, 2022   |  

After a 4-year court battle, FESCO's biggest shareholder with a 32.5% stake, Ziyavudin Magomedov was sentenced to 19 years in jail over corruption charges, which will now be up for sale.

The suitors for control of FESCO, and its transport footprint in Russia’s Far East, are expected to be Delo Group, the largest Russian container operator, and DP World from Dubai.

Vladivostok-based FESCO has a fleet of 20 ships plus port and rail interests.