×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

TransMashHolding Share Goes to Alstom

The Federal Anti-Monopoly Service has given the go-ahead for French company Alstom to purchase a 25 percent stake in rolling stock manufacturer TransMashHolding, TransMashHolding board chairman Andrei Bokarev told reporters on the sidelines of a meeting of Russian Union of Industrialists and Entrepreneurs executives Thursday.

The government foreign investment commission approved the sale of 25 percent plus one share in TransMashHolding to Alstom at the end of March. Both companies had hoped to close the deal by the end of 2010.

Anti-monopoly service deputy chief Andrei Tsyganov said earlier that the commission sought resolution of issues regarding TransMashHolding supplies to defense plants. Tsyganov said March 1 that all issues that might have stopped the investment commission from considering the deal — chiefly access to state secrets and the production of special-purpose rolling stock — had been resolved.

Bokarev said "the Defense Ministry, Federal Guard Service, FSB and all institutions involved with the secrecy of certain facilities and the preservation of a certain potential" had concerns about the reorganization of production facilities where state defense orders are carried out or specialized items are manufactured.

"As soon as they received guarantees from us, all these issues were removed," Bokarev said.

TransMashHolding combined sales in 2009 came to 71 billion rubles ($2.54 billion). Its core shareholders are Iskander Makhmudov and Bokarev and firms controlled by TransGroup and Russian Railways.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more