RNS Number : 2899D
21 March 2011
21 March 2011
TransContainer to acquire a 67% stake in the JSC KedenTransService
JSC TransContainer (TRCN) ("TransContainer" or the "Company") has obtained control over a 67% stake in JSC KedenTransService ("KedenTransSecrive") (20.1% directly and 46.9% indirectly through a subsidiary). KedenTransService is a leading private operator of cargo handling terminal facilities in Kazakhstan. KedenTransService operates 17 terminal facilities across Kazakhstanand also owns a fleet of ca. 30 freight locomotives. In addition, KedenTransService provides customers with a wide range of freight forwarding, logistics and customs clearance services, as well as cargo transshipment at the Dostyk cross border terminal from and to Chinese.
TransContainer obtained bank financing to fund the acquisition of this stake in KedenTransService.
Following this acquisition, Kazakhstan Temir Zholy, the Kazakh state-owned railway company, will hold a 33% stake in KedenTransService. Kazakhstan Temir Zholy also has an option to buy back a stake of up to 17% in KedenTransService from TransContainer. TransContainer and Kazakhstan Temir Zholy have also agreed general principles of co-operation in the Republic of Kazakhstan with the objectives of increasing transit rail container traffic between Asia and Europe by means of the provision of integrated logistic services both in Russia and Kazakhstan, as well as to establish a unified container handling infrastructure and optimize the terminal handling business for transit container transportation.
For further information contact:
Director, Capital Markets and Investor Relations
Phone: +7 (499) 262 8506, e-mail: email@example.com
Simon Whitehead +44 207 457 2020
TransContainer is the leading intermodal container transportation company in Russia. It is the market leader in Russia by flatcar fleet size, container transportation by rail and rail-side container terminal throughput with a market share in these categories of approximately 60 percent, 52 percent and 34 percent, respectively. It operates more than 24,000 flatcars, approximately 60,000 containers and owns a network of rail-side container terminals located at 46 railway stations in Russia and operates one terminal in Slovakia. Company's sales network comprises approximately 150 sales outlets across Russia as well as presence in the CIS, Europe and Asia. TransContainer is listed at MICEX, RTS and LSE. Company's major shareholder is Russian Railways with 50%+1 share.
JSC KedenTransService is a leading private operator of cargo handling terminal facilities and private locomotive fleet in Kazakhstan. The company has been operating for more than 10 years and has a branch network throughout the country.
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