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Russian Railways sold 25% of AeroExpress to TransGroup AS Ltd

Russian Railways (RZD) sold 25% of OOO AeroExpress to TransGroup AS on the 6th of March, informs Itar – Tass. Following the transaction, “Delta-Trans-Invest” (part of “TransGroup AS”) has increased its stake in “Aeroexpress” to 50%.

Russia’s Federal Antimonopoly Service has cleared Delta-Trans-Invest for this transaction in September 2013.

RZD acquired 50% stake in “Aeroexpress” in 2008.  However, due to significant under-funding of its own railway infrastructure, RZD currently does not have the financial resources to invest in “Aeroexpress”.

In terms of the shares value, Valery Reshetnikov, RDZ  Senior Vice President stated in November last year that RZD could obtain up to 200 million rubles. “At the time we purchased 50% of “Aeroexpress” for about 60 million rubles, now the stakes value reaches 360-400 million rubles” .

Source* ITAR-TASS; photo*Aeroexpress

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