PRESS: Russia’s TransContainer can sell Kazakh unit to local railways

MOSCOW, Oct 10 (PRIME) -- Russian container shipping company TransContainer can sell a 50% stake in Kazakh railway terminal operator Kedentransservis to Kazakh state railway operator Kazakhstan Temir Zholy for about U.S. $70 million, business daily Kommersant reported on Thursday, citing sources.

A source with knowledge of the situation said that the authorities and Russian Railways were enthusiastic about the proposal. The deal can take place before the auction for a controlling stake in TransContainer scheduled for November 27.

Kazakhstan Temir Zholy and TransContainer own Kedentransservis on a parity basis. TransContainer initially planned to contribute its stake to the United Transport Logistics Company of Russia, Belarus and Kazakhstan but Belarus and Kazakhstan did not make their contributions in the united company.

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