VTB Bank buys 24.84% in Russia’s TransContainer

MOSCOW, Oct 23 (PRIME) -- Russia’s second biggest lender VTB Bank has acquired direct control over 24.84% in the country’s largest railroad container operator TransContainer, as seen by PRIME in the bank’s materials on Tuesday.

Earlier in the day, VTB CEO Andrei Kostin said that the bank will resell the stake in TransContainer if it acquires it.

Last week RBC business newswire reported citing sources that VTB Bank may buy the stake in TransContainer owned by Far Eastern Shipping Company (FESCO) and resell it to companies of tycoon Roman Abramovich or businessman Vladimir Lisin. VTB Bank is FESCO’s largest creditor, and it will use the money from the deal to reduce the company’s debt.

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