NTK becomes single stakeholder of Freight One

The Russian Government authorized the sale of 25% in Freight One to Vladimir Lisin’s NTK in what may become a major consolidation in the rail transportation industry, rzdpartner.com quoted Vedomosti.

NTK will buy the stake from Russian Railways for USD 1.58 Billion, industry insiders said. The proposed sale should now go to the railway monopoly’s board of directors for approval, industry sources said.Russian Railways president Vladimir Yakunin said earlier that the company hoped to close the sale before the end of this year to boost revenue.

Russian Railways chose NTK as the buyer for Freight One in a tender held in October.
NTK already owns 75% of Freight One. After the purchase of the remaining stake, UCL Holding, NTK’s parent company, plans to conduct an IPO of its rail transportation division, UCL Rail.

Experts estimate the division’s value at about USD 5.2 Billion.

Source: rzd-partner

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