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Thursday, September 29, 2022

RZD sells remaining Freight One stake

Russian Railways (RZD) has sold its remaining 25 per cent stake in Freight One, completing the largest privitisation deal in Russian history.

In 2011, RZD sold 75 per cent minus two shares of the company to Independent Transport Company (ITC), which is owned by Russia’s richest man Vladimir Lisin, for 125.5 billion roubles.

The latest deal will see ITC acquire the remaining 25 per cent for 50 billion rubles.

The board of directors has also approved the sale of 75 per cent minus two shares of locomotive maintenance arm Zheldorremmash.

Following a bidding process in August, TMH-Service, a subsidiary of Tranmashholdings, agreed a 7.9 billion rubles takeover.

THM-Service will now sign a five-year agreement for the locomotive and rolling stock maintenance .

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