FESCO may sell stake in Russkaya Troika to foreign company

VIENNA, Mar 19 (PRIME) -- Russia’s Far Eastern Shipping Company (FESCO) may sell a stake in railway freight company Russkaya Troika to a foreign investor if it consolidates 100% in it, FESCO CEO Alexander Isurin told reporters on Tuesday.

FESCO bought 25% minus one share in Russkaya Troika from private pension fund Blagosostoyanie for an undisclosed sum in April 2018, driving its stake in the company to 75% minus one share. The remaining stake of 25% plus one share is owned by state railway monopoly Russian Railways.

“We may create a partnership with someone for development of railway transportation, and Russkaya Troika is one of the mechanisms for that. We bought it, we sold part of it. We have an idea. An idea of creating a joint venture, a transit venture in the first place. If there is an investor, it will be a foreign investor. An investor from Korea, China, or Japan,” Isurin said.

FESCO is interested in buying the remaining 25% stake in Russkaya Troika, and has the money to do it, he said.

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