UPDATE: Govt to set terms to sell Russian Railways stake in TransContainer

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MOSCOW, Oct 16 (PRIME) -- First Deputy Prime Minister Igor Shuvalov ordered to set terms of competitive procedures to sell a stake of state-owned railroad operator Russian Railways in container shipping company TransContainer, an official in his administration told PRIME on Monday.

A source close to the situation told PRIME that the government endorsed the idea to sell the stake to a strategic investor.

United Transport Logistics Company (UTLC) of Russia, Belarus and Kazakhstan is the owner of 50% plus two shares in TransContainer. Russian Railways plans to withdraw, while the government is considering its sale. Multi-industry Summa Group and railway cargo operator Freight One, the Russian Direct Investment Fund (RDIF) have already expressed interest.

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