North–South JSC was established in Russia, with 100% of the shares of the Makhachkala Commercial Sea Port transferred to its authorized capital. The relevant document is published on the official portal of legal information (ist.). The market value of the shares is estimated at 1.25 billion rubles. The newly formed structure will be engaged in the development of the transport infrastructure of the North–South MTK.
The strategic investor, who will be determined by the government of the Russian Federation, will receive 51% of the company's shares. Subsequently, he will be able to buy out the state's share within five years.
The President instructed the government of the Russian Federation to select a strategic investor within four months and conclude agreements with him. Contracts with the potential owner of shares provide for the execution of his obligations and the measures necessary for their fulfillment. The Cabinet of Ministers is also obliged to establish responsibility for non-fulfillment of these obligations and the procedure for their control.
