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Russia Sells Cargo-Carrier Stake In Rare Privatization Deal (1)

Nov. 27, 2019, 3:59 PM

Transportation tycoon Sergey Shishkarev’s Delo Group won an auction to buy control of cargo carrier TransContainer PJSC with a bid of 60.3 billion rubles ($940 million) in a rare privatization deal in Russia.

The sale of the 50% plus two shares of TransContainer will close by the end of the year, Andrey Starkov, deputy chief executive officer of state-owned Russian Railways JSC, the seller, told reporters in Moscow on Wednesday. The starting price was 36.2 billion rubles, well below the market value of 59.4 billion rubles for the stake, based on its closing price on Tuesday.

Delo...

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