Support The Moscow Times!

Fesco Wants TransContainer

Fesco Transportation Group plans to gain a controlling stake in TransContainer in two to four years, chief executive Sergei Generalov said Wednesday.

“It will happen” when Russian Railways, the state rail monopoly, sells control of its units, Generalov said.

The shipper, which bought 12.5 percent of TransContainer for $139 million in an initial public offering last week, used its own funds for the purchase, he said. Fesco has enough funds and doesn’t plan to sell stock, Generalov said.    

Deputy Transportation Minister Andrei Nedosekov said Monday that Russian Railways may sell a controlling stake in TransContainer in 2012-13 to help finance investments.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.