Estonian Railway falls under Government control
Edgar Savisaar, minister of economic of Estonia, and Baltic Rail Service representatives, have signed an agreement on byeback of majority shareholding of Eesti Raudtee (Estonian Rilway), Estonian Ministry of Economics and Finance said according to RZD-Partner reports. The Government receives 66% of shares (19.800.000 shares) of ERW owned by BRS. BRS will get $180 million from the Government. BRS privatized control stock of Eesti Raudtee in 2001 for $76 million. It is now necessary to get approval from the Parliament of the country for allocation of the funds. The deal is to be financed from additional budget.