TransContainer, the Russian intermodal freight operator has announced it is to acquire a 67% stake in JSC KedenTransService  (20.1% directly and 46.9% indirectly through a subsidiary).
KedenTransService is a leading private operator of cargo handling terminal facilities in Kazakhstan.
KedenTransService operates 17 terminal facilities across Kazakhstanand also owns a fleet of ca. 30 freight locomotives. In addition, KedenTransService provides customers with a wide range of freight forwarding, logistics and customs clearance services, as well as cargo transshipment at the Dostyk cross border terminal from and to China.
TransContainer obtained bank financing to fund the acquisition of this stake in KedenTransService.
Following this acquisition, Kazakhstan Temir Zholy, the Kazakh state-owned railway company, will hold a 33% stake in KedenTransService. Kazakhstan Temir Zholy also has an option to buy back a stake of up to 17% in KedenTransService from TransContainer.
TransContainer and Kazakhstan Temir Zholy have also agreed general principles of co-operation in the Republic of Kazakhstan with the objectives of increasing transit rail container traffic between Asia and Europe by means of the provision of integrated logistic services both in Russia and Kazakhstan, as well as to establish a unified container handling infrastructure and optimise the terminal handling business for transit container transportation.
