Universal Cargo Logistics buys Freight One stake
Russia-based Universal Cargo Logistics has acquired a 75% stake in Russian Rail subsidiary Freight One for $4.2bn.
Russia-based Universal Cargo Logistics has acquired a 75% stake in Russian Rail subsidiary Freight One for $4.2bn.
The sale is part of state-owned Russian Railways’ divestment plan, as well as the Russian Government’s overall privatisation programme to raise about $32bn.
Russian Rail is planning to use the proceeds for infrastructure development.
Freight One owns about 21% of Russian rolling stock.