The Board of Directors of Russian Railways pre-approved the sale of 25 percent shares (plus 1 share) of TransContainer at a public auction, the state-owned monopoly’s press service reports. The RUB 10,722bn stake is planned for sale in 2011. The auction sponsor is JSC TransCreditBank.
In addition, RZD Board had previously approved the sale of 75% shares (-2 shares) of four subsidiaries: JSC ZhelDorRemMash, JSC VagonRemMash, JSC Moscow Locomotive Repair Plant, JSC Novosibirsk Switch Plant. The stakes sale is scheduled for 2011-2012.
Russian Railways implements the stakes sale in line with the company’s large-scale reform and should promote competition in the industry, said RZD President Vladimir Yakunin.
In addition, RZD Board had previously approved the sale of 75% shares (-2 shares) of four subsidiaries: JSC ZhelDorRemMash, JSC VagonRemMash, JSC Moscow Locomotive Repair Plant, JSC Novosibirsk Switch Plant. The stakes sale is scheduled for 2011-2012.
Russian Railways implements the stakes sale in line with the company’s large-scale reform and should promote competition in the industry, said RZD President Vladimir Yakunin.