The Russian government has decided to sell 75% minus 2 shares of the Freight One in one lot at a public auction.
Legal entities registered in Russia (non-state corporations with a stable financial position and experience of operating railway rolling stock) can participate in the auction.
It’s planned that the auction will take place before the end of 2011.
Russian Railways President Vladimir Yakunin said:
“This sale will become a key element in the reform of the freight side at Russian railways. As a result, the market will see the entering of the largest private player into the cargo sector, while Russian Railways will receive significant funds to finance its investment programme.
“The terms of the auction mean that we can expect a strategic investor to enter the industry who is interested not only in the commercial benefits, but also in the development of Russia’s rail system.”
Freight One owns 21% of the Russian rolling stock fleet.