FESCO Transport Group has acquired 12.5% of shares in TransContainer (a subsidiary of Russian Railways JSC) during an IPO for $138.9 million, the company’s press service reports. The acquisition is aimed at developing long-term strategic partnership with TransContainer, FESCO said.
President of the Group Sergei Generalov, commenting on the deal, said that acquisition by FESCO of TransContainer’s shares was "more than just an investment in an asset with a promising value growth potential."
"Besides the obvious operational synergies that could be achieved by pooling our efforts on the railroad and maritime arm, cooperation with TransContainer can give additional impetus to the development of innovative transport system, and to reposition Russia on the world market of container transportation as a key traffic artery connecting Europe and Asia,” he added.
Transport group FESCO, formed on the basis of the Far Eastern Shipping Company (FESCO), is a largest Russian container operator. The Group owns a fleet of more than 1 million DWT. The company’s own container fleet exceeds 50,000 TEUs. The total capacity of the port handling facilities is more than 1.6 million TEUs. Consolidated revenues of FESCO in the first half of 2010 amounted to $387m, EBITDA - $75m.
TransContainer, a subsidiary of the state-owned Russian Railways (RZD), was formed on March 4, 2006 on the basis of a RZD’s arm –Center for Cargo Container Traffic. TransContainer Company is a leading rail container operator in Russia, providing a broad range of services for container shipments and logistics services. As of now the company operates the largest cars fleet, in Russia, CIS and Baltic countries, over 24.000 flatcars, some 60.000 containers of various sizes, as well as more than 840 units of trucks, tractor-trailers, etc.
President of the Group Sergei Generalov, commenting on the deal, said that acquisition by FESCO of TransContainer’s shares was "more than just an investment in an asset with a promising value growth potential."
"Besides the obvious operational synergies that could be achieved by pooling our efforts on the railroad and maritime arm, cooperation with TransContainer can give additional impetus to the development of innovative transport system, and to reposition Russia on the world market of container transportation as a key traffic artery connecting Europe and Asia,” he added.
Transport group FESCO, formed on the basis of the Far Eastern Shipping Company (FESCO), is a largest Russian container operator. The Group owns a fleet of more than 1 million DWT. The company’s own container fleet exceeds 50,000 TEUs. The total capacity of the port handling facilities is more than 1.6 million TEUs. Consolidated revenues of FESCO in the first half of 2010 amounted to $387m, EBITDA - $75m.
TransContainer, a subsidiary of the state-owned Russian Railways (RZD), was formed on March 4, 2006 on the basis of a RZD’s arm –Center for Cargo Container Traffic. TransContainer Company is a leading rail container operator in Russia, providing a broad range of services for container shipments and logistics services. As of now the company operates the largest cars fleet, in Russia, CIS and Baltic countries, over 24.000 flatcars, some 60.000 containers of various sizes, as well as more than 840 units of trucks, tractor-trailers, etc.