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Russian RZD plans to generate 23 billion rubles from sale of subsidiaries in 2014
Published: Mon, 2015-04-13 09:42- Likes 2
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RZD to sell non-core assets
More than 11 billion rubles (US$200 million) were generated by RZD from the sale of stocks and shares in its subsidiaries to private investors in 2014, according to the company.
Of these, about 4.862 billion rubles were received from the sale of 75% stake in "The First Non-Metallic Company" , one of Russia’s largest aggregates’ producers, about 2,501 billion rubles from the sale of 75% stake in Vagonremmash and 555 million rubles from the sale of 25% in "Aeroexpress", the operator of air rail link services in Moscow.
Valeriy Reshetnikov, RZD’s senior vice-president, said this year the company hopes to receive around 23 billion rubles from the sale of its subsidiaries. As part of these plans, the company may sell 25% in Transmashholding, one of Russia’s largest producer of rolling stock.
Sale of shares in subsidiaries and affiliates is carried out by RZD as part of the third phase of the structural reform of the Russian railway industry. Among RZD’s assets that are planned for privatization are factories, specializing on the production of rails, repair companies and some other enterprises.
Av Eugene Gerden
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