CEO: Freight One still ready to buy UVZ-Logistic, TransContainer

MOSCOW, Apr 18 (PRIME) -- Russian railway operator Freight One, part of businessman Vladimir Lisin’s UCL Holding, is still ready to consider a purchase of operator UVZ-Logistic if the price is good and railway container operator TransContainer of Russian Railways sells it, Freight One CEO Oleg Bukin told reporters on Tuesday.

On February 7, railway equipment and tank maker Uralvagonzavod said it agreed to sell 100% in UVZ-Logistic to Trinfico Property Management, which manages Blagosostoyanie’s pension reserves. But the deal has not been closed yet.

“If the company makes steps to transform UVZ-Logistic’s valuation into more realistic, we are ready to study it…We are ready to buy assets from UVZ-Logistic … at a reasonable valuation,” Bukin said.

Freight One studies all assets for possible acquisitions. “Speaking of TransContainer…If the asset is put up for sale, we will see conditions of the sale and we will analyze the efficiency of investing in the asset,” he said.

United Transport Logistics Company of Russia, Belarus, and Kazakhstan owns 50% plus two shares in TransContainer, but Russian Railways earlier said it plans to get the stake back. Far Eastern Shipping Company (FESCO), part of Summa Group, owns 25.07%, and private pension fund Blagosostoyanie has 24.5%.

Previously, Russian Railways CEO Oleg Belozyorov said that several companies, including Freight One, are interested in buying the stake. In late 2016, Belozyorov said the company sees the sale of TransContainer unreasonable.

But on January 19, 2017, First Deputy Prime Minister Igor Shuvalov said that the government plans to create a privatization plan for subsidiaries of Russian Railways, and TransContainer may be among them.

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