PRESS: Ministry offers to sell TransContainer terminals before privatization

MOSCOW, Oct 5 (PRIME) -- The Russian Transport Ministry has offered to sell a part of terminals of TransContainer before privatization of the Russian Railways’ stake in the company, business daily Kommersant reported on Thursday, citing a letter by a deputy economic development minister.

Russian Railways earlier contributed the stake in the operator to the United Transport Logistics Company (UTLC) of Russia, Belarus, and Kazakhstan but later decided to take it back. The authorities may decide to sell the stake.

The Transport Ministry thinks that TransContainer should divest from dry container terminals in places where it is a monopoly.

A source in the Economic Development Ministry confirmed that the ministry supports the sale of the TransContainer stake but the terminal divestment is seen as an unviable step. Summa Group, Global Ports, UCL Holding, Group Delo and the Russian Direct Investment Fund (RDIF) could become the investors in the asset.

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