Control of FESCO up for grabs following jail sentence of its largest shareholder

Following a four-year court battle, Ziyavudin Magomedov was sentenced to 19 years in jail yesterday over corruption charges. His leading 32.5% stake in FESCO, Russia’s largest private maritime logistics operator, will now be put up for sale.

Among likely suitors for control of FESCO, and its unique transport footprint in Russia’s Far East, are likely to be Delo Group, the largest Russian container operator, as well as DP World from Dubai, both companies having earlier circled the Russian container specialist.

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