Russia: Delo Group buys majority share in TransContainer
Russian Railways (RZD) sold 50% + 2 shares in TransContainer in an auction held on 27 November to the Sergey Shishkarev-led Delo Group. The start price was RUB 36.2 billion (USD 566.3 million). The RF government approved a directive to sell the RZD-controlled share in TransContainer in April this year.
The requirement was that the bidders should own either no less than 20% in TransContainer, or no fewer than five thousand railcars, or a container terminal with a capacity of no less than 50,000 teu as of 2018. According to Andrey Starkov, deputy CEO of Russian Railways, the company intends to invest the proceeds into its long-term development programme until 2025. (ben)