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Ukraine approves RZD’s purchase of France’s logistics company subsidiary

November 10, 2012, 12:35 UTC+3
The deal should be completed before the yearend
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KIEV, November 10 (Itar-Tass) —— Ukraine’s Anti-Monopoly Committee permits Russia’s Railroad Company to purchase a major logistics company – France’s GEFCO.

The permission was required due to the fact that the company’s subsidiary is working in the territory of Ukraine, Ukraine’s Anti-Monopoly Committee said in its report to Itar-Tass office in Kiev on Saturday.

GEFCO Ukraine is a quickly growing logistics company, which has been working in Ukraine since June of 2008. It provides a wide range of services in ground, sea and air transportation, as well as storage and customs clearance. The subsidiary has a logistics centre outside Kiev, which has a car terminal of over 15,700 square metres, a warehouse of over 127,000 square metres and a port-car terminal in Ilyichevsk near Odessa.

The two sides signed an agreement on November 5, under which Russia’s Railroads Company buys 75 percent of GEFCO. The deal should be completed before the yearend. Its cost is 800 million euros. France’s Peugeot-Citroen Concern will keep 25 percent of the stock and will continue management of the logistics operator.

GEFCO Ukraine said that the group has twelve subsidiaries: in Russia, Poland, Czech, Austria, Hungary, Slovenia, Bulgaria, Kazakhstan, Latvia, Romania and Turkey.

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