Auction was held for the sale of controlling stake in TransContainer
An open auction was held on 27 November 2019 for the sale of shares of TransContainer by the Russian Railways holding company in the form of a subsidiary of the Unified Transport & Logistics Company.
In accordance with a decision of the Board of Directors, a controlling stake in the company amounting to 50% plus 2 shares was put up for sale.
The starting (minimum) price of the shares was 36.159 billion roubles, with bids rising in increments of 200 million roubles after the first step of 141 million rouble.
The auction concluded with the acquisition of the shares by "Delo-Centre" LLC for 60.3 billion roubles.
"The total price is significantly higher than the starting price, but we are not surprised by the outcome. TransContainer is an extremely interesting asset. The company has tripled its EBITDA over the past three years and increased its net profit fourfold. This is one of the most interesting and fastest growing companies in the transport sector," said Andrei Starkov, Deputy Managing Director of Russian Railways, after the auction.
According to Starkov, the proceeds from the sale will be used for projects under the "Long-Term Development Programme of Russian Railways until 2025."
The auction was organised by VTB Capital.