UCLH completes Freight One’s majority stake acquisition
Independent Transport Company (LLC NTK), part of a rail division of UCL Holding, has successfully completed the acquisition of a 75% stake (- 2 shares) of JSC Freight One of the JSC Russian Railways (RZD), the holding’s press service said.
The deal was financed trough UCLH’s funds and a RUB 76bn loan extended by a consortium of two banks, SberBank and VTB Capital. The majority stake acquisition will enable UCL Holding to emerge on the market as one of the biggest players in domestic and international rail traffic services.
JSC Freight One formed in 2007 by state-owned monopoly Russian Railways (RZD) is now a leading provider of rail transportation in Russia. Currently FO owns and operates a fleet of over 190,000 units of rolling stock. In 2010, the rail operator carried 302.3 million tons of different cargoes.
Dutch-registered Universal Cargo Logistics Holding (UCL Holding) is an international transport group comprising a number of shipping, shipbuilding, railway, logistics and stevedoring companies based in Russia. The Group owns terminals at Sea Port Saint-Petersburg and Universal Handling Complex in the North-West Russia; southern ports of Tuapse and Taganrog. UCLH is a majority owner of Volga-Balt Transport Holding (VBTH).
Independent Transport Company is part of the sub-holding UCL Rail Ltd, NTK-Wagon LLC and of a car-repair company "Gryazy", a joint venture of NTK and RZD. UCL Rail operates a fleet of more than 28,000 freight cars, including 27,000 gondolas.