PRESS: Government analysts see TransContainer sale reasonable

MOSCOW, Aug 3 (PRIME) -- The Analytical Center for the Russian government thinks that privatizing an up to 75% stake in railway container operator TransContainer would be reasonable, Kommersant business daily reported on Thursday.

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 independent pension fund Blagosostoyanie has 24.5%.

Kommersant reported that on June 28 the Economic Development Ministry has submitted results of the analysis of a possible sale of 50% plus 2 shares in TransContainer to the administration of First Deputy Prime Minister Igor Shuvalov. A representative for Shuvalov confirmed the receipt of the letter.

A source familiar with minutes of a meeting in the ministry, where the Analytical Center presented its analysis told the business daily that the sale of the Russian Railways’ stake is reasonable taking into account the current situation and the trend of the market development.

The center thinks that Russian Railways should first sell the 24.5% stake owned by their pension fund Blagosostoyanie. The centre also said that Summa’s suggestion to create a national container operator on the basis of TransContainer and FESCO is sensible. A Summa representative told Kommersant that the group is still ready to buy 25% in TransContainer, but may also partake in the auction for a controlling stake.

Another source told Kommersant that the letter describes both options – the sale of the stake and a continuous ownership of the package – but says that if there is an open auction for the stake, the whole stake of Russian Railways should be put up for sale. But supporters of the sale have no common view whether Summa has to be the buyer of the stake, the source said.

End