Russia’s VTB buys 50% plus 1 share in railway holding RTC

MOSCOW, Jun 3 (PRIME) -- Russia’s second biggest lender VTB has acquired a 50% plus one share stake in railway holding RTC for an undisclosed amount, the bank said in a statement on Monday.

“Bank VTB and the shareholders of RTC have reached an agreement and have signed binding documents oò acquisition of a 50% plus one share stake in RTC by VTB. The shareholders plan to continue to fulfill the development strategy of the company, aimed at supporting the leading positions in the segment of transportation by profile rolling stock,” VTB said.

According to the statement, RTC’s priority task is to upgrade the existing grain logistic infrastructure, while other segments of business, such as timber, bulk cargo and fertilizer transportation are also to be developed.

End