The European Bank for Reconstruction and Development (EBRD) and JPMorgan have shown interest in acquiring stakes in the First Freight Company (FCC, a Russian Railways subsidiary), RZD-Partner.Ru reports quoting RZD President Vladimir Yakunin’s interview with journalists.
According to Vladimir Yakunin, some largest Russian banks also would be willing to get stocks in FCC.
There has been no official application so far from the Independent Transport Company (ITC) owned by Vladimir Lisin, who claimed to be controlling FCC, the RZD official said. Globaltrans is also interested in acquiring a controlling stake in the newly formed Second Cargo Company.
Speaking about the plans for privatization of FCC and SCC, Mr. Yakunin said that Russian Railways can hand over its majority stake only one of its subsidiaries, now it is the government’s turn to decide.
Russian Railways was reportedly considering either IPO of up to 50% of FCC or selling of a blocking stake of the operator to potential strategic investors after IPO, about 25% of its stocks. Among those strategic investors, was named a Russian multi-billionaire Vladimir Lisin. RZD still hesitates, which of the two companies’ controlling or blocking stakes to sell. Vladimir Yakunin has said earlier that RZD "in the future is not going to keep at the same time controlling stake in the capital of FCC and SCC. Russian Railways intended to sell a controlling stake in Second Cargo Company in the next 1.5-2 years.
FCC is the largest Russian rail transport operator. RZD holds currently a 100-percent stake in the company. FCC owns and operates 200,000 rail cars of different types (21% of the rolling stock of Russia). In 2009 FCC transported 231.8 million tons of cargo. The company’s CEO Salman Babayev said FCC’s assets could be estimated at about $5bn.
According to Vladimir Yakunin, some largest Russian banks also would be willing to get stocks in FCC.
There has been no official application so far from the Independent Transport Company (ITC) owned by Vladimir Lisin, who claimed to be controlling FCC, the RZD official said. Globaltrans is also interested in acquiring a controlling stake in the newly formed Second Cargo Company.
Speaking about the plans for privatization of FCC and SCC, Mr. Yakunin said that Russian Railways can hand over its majority stake only one of its subsidiaries, now it is the government’s turn to decide.
Russian Railways was reportedly considering either IPO of up to 50% of FCC or selling of a blocking stake of the operator to potential strategic investors after IPO, about 25% of its stocks. Among those strategic investors, was named a Russian multi-billionaire Vladimir Lisin. RZD still hesitates, which of the two companies’ controlling or blocking stakes to sell. Vladimir Yakunin has said earlier that RZD "in the future is not going to keep at the same time controlling stake in the capital of FCC and SCC. Russian Railways intended to sell a controlling stake in Second Cargo Company in the next 1.5-2 years.
FCC is the largest Russian rail transport operator. RZD holds currently a 100-percent stake in the company. FCC owns and operates 200,000 rail cars of different types (21% of the rolling stock of Russia). In 2009 FCC transported 231.8 million tons of cargo. The company’s CEO Salman Babayev said FCC’s assets could be estimated at about $5bn.