Russia's Universal Cargo Logistics Holding (UCL Holding), owned by billionaire Vladimir Lisin, has bought 75 percent minus two shares of Freight One, a rail cargo subsidiary of state monopoly Russian Railways, in a multibillion dollar deal, a UCL Holding spokesperson told RIA Novosti on Friday without disclosing the price. The auction for the sell-off of the stake had a minimum price of 125 billion rubles or around $4 billion. The sale of 75 percent minus two shares in Freight One is a part of the government's 2011-2013 privatization plan intended to bring an extra 1 trillion rubles ($33 billion) to state coffers. Transoil firm owned by billionaire Gennady Timchenko and NefteTransServis rail cargo transportation company also bid at the auction. Lisin already owns major transport assets including port facilities in St Petersburg and Tuapse, and Independent Transportation Co, a rail freight firm. He also owns at least 80 percent of NLMK, one of Russia's largest steelmakers, according to the firm.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor