Support The Moscow Times!

Rail Operator Woos GEFCO

Russian Railways has considered bidding for French carmaker Peugeot's logistics division GEFCO, according to materials produced for a Russian Railways' board meeting.

Peugeot plans to sell a 75 percent stake in GEFCO for up to 1 billion euros ($1.25 billion) to cut the car company's debt and shore up its finances.

In a presentation dated August 2012, a proposed deal was preliminarily valued at up to 975 million euros, excluding potential synergies, based on a $1.3 billion valuation for 100 percent of GEFCO.

It is unclear whether Russian Railways remains interested in the asset. The state monopoly declined to comment.


Related articles:

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.