SUEK buys seaport in Far East

The Siberian Coal and Energy Company (SUEK) has bought 69 percent of the voting shares in the trade seaport Posyet in the Primorsky region. It means that Russia's major participant on the coal market has acquired facilities that will enable it to export coal to countries of the Asia Pacific region. The sum of the deal has not been reported.

Sources in the seaport Posyet told RBC that SUEK purchased 9.752m common shares in the seaport on August 12, 2003. SUEK has obtained permission from the Russian Anti-Monopoly Ministry to buy 100 percent in the seaport.

SUEK is a part of the MDM industrial group.

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