|Dec 04, 2019
RZD sells majority stake in Transcontainer for $US 943m
RUSSIAN Railways (RZD) has sold its 50% plus two shares stake in Transc
Delo Group paid a premium of 4% on Transcontainer’s share price and expects to complete the deal by the end the year. Delo Group will fund the share purchase through a Sberbank credit line and from its own resources.
Delo Group is one of Russia’s largest private transport and logistics companies with ports in the Azov-Black Sea, Baltic and Far Eastern basins, and is already a rail and multimodal container freight operator.
"The acquisition of the largest container operator in Russia is an important strategic step for the development of the transport industry and for Delo Group," says Delo Group’s president, Mr Sergey Shishkarev, who says the deal will enable the company to become a national logistics transport integrator. "We are considering all options for the strategic development of the new asset," he says.
Shishkarev founded Delo Group in 1993. He served as a member of the Russian Duma for several years and was head of the transport committee.
ontainer to Delo Group for Roubles 60.3bn ($US 643m) following a closed auction on the Moscow Stock Exchange.
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