Russian Railways says to auction railway components plant anew

MOSCOW, Apr 8 (PRIME) -- Russian Railways has announced a new auction to sell 100% minus one share in Moscow-based railway transport components plant Krasny Put with a starting price of 585 million rubles and an increment of 5 million rubles, as seen by PRIME on Monday in the materials of the company.

Russian Railways will collect bids from Tuesday until April 22, and an auction commission will consider the bids on May 8. The auction itself will be hold on May 15.

Russia’s second largest bank VTB acts as the organizer of the auction.

Russian Railways has tried to sell Krasny Put several times, including for 585 million rubles in 2017 but had to cancel the auction due to the lack of bids.

The Krasny Put plant suspended production in 2010 and now rents out its property.

(65.4072 rubles – U.S. $1)

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