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November 1, 2011

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.

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