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.
(Reuters)
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
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 every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
