Russian Railways is ready to sell 35% minus one share in TransContainer.

By bne IntelliNews February 17, 2010
As announced by the head of the state rail monopoly Russian Railways (RZD) Vladimir Yakunin, the company is ready to sell a 35% minus one share stake in its subsidiary TransContainer at an IPO. This would decrease RZD's stake in TransContainer from 85% to a minimum control stake (50% plus one share). TransContainer was established in 2006 and as of end of 2007 operated 23,000 railroad platforms, 177,000 containers and 47 terminals. Its RAS net profit went down by 98% y/y to RUB 28.9mn (USD 0.9mn) in Jan-June 2009. Companys revenues decreased by 15% y/y to RUB 7.68bn in the reporting period. To remind, in 2008 TransContainers RAS net profit went up by 75% y/y to RUB 2.68bn.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    7 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss