UVZ sells off its stake in Tver rail car plant to LocoTech-Servis
MOSCOW, Mar 20 (PRIME) -- Russian railway equipment maker Uralvagonzavod (UVZ) sold its 42.47% stake in the Tver Rail Car Building Plant to LocoTech-Service, part of railroad machinery service provider Locomotive Technologies Group, on March 5, the plant said in a statement on Tuesday.
In January, a source familiar with the situation said that UVZ had held a closed auction for the stake without disclosing the winner.
In February, Federal Antimonopoly Service said it allowed LocoTech -Service to acquire a 100% stake in the plant.
(57.5521 rubles – U.S. $1)