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Fesco denies media reports about possible sale of stake in TransContainer

June 15, 2016, 16:16 UTC+3 MOSCOW
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MOSCOW, June 15. /TASS/. Fesco transportation group has denied media reports about possible sale of stake in TransContainer, according to the group’s press release.

"Holding this asset is a strategic investment for the company. Rumors about its sale do not correspond with the reality," the groups said.

Earlier the Vedomosti newspaper reported citing sources familiar with top managers of Russian Railways, TransContainer and the Summa Group (managing partner and the main shareholder of Fesco) are in talks on sale of Fesco’s 24.17% stake in TransContainer and that Russian Railways is a potential buyer.

Fesco (Far Eastern Shipping Company) is one of the leading privately-owned transportation and logistics companies in Russia. Fesco controls the Commercial Port of Vladivostok and is among the 10 largest Russian private rail operators, providing services under «Transgarant» (100% subsidiary of Fesco) and «Russian Troika» (50% joint venture with JSC Russian Railways) brands.

FESCO has a fleet of 22 vessels, mostly deployed through own sea service lines, and 4 icebreakers leased under long-term contracts. The company’s shares are traded on the Moscow Exchange.

The Summa group of Mamedov brothers has a 32.5% stake in Fesco. GHP Group owns 23.8%, TPG holds 17.6% and 26.3% of shares are in free float.

Russia’s TransContainer is an operator of over 26,000 container flatcars, over 62,000 high-capacity containers, and 46 freight terminals over the Russia’s railway network.

The United Transport and Logistics Company /created by the Russian Railways with KTZ and Belarus Railways/ holds 50% plus 2 shares in TransContainer. Fesco transport group holds 24.1%, European Bank for Reconstruction and Development owns 9.25%, and Blagosostoyanie private pension fund controls 10.29% of shares. TransContainer carried 1.47 mln TEU (20 ft container equivalent) in 2014.

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