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Rail Firm Buys Evraz Unit

NefteTransService, one of Russia's largest private rail operators, won an auction to buy rail operator Evraztrans from steelmaker Evraz, the companies said.

NefteTransService will pay about $300 million for Evraztrans, along with a transport services contract. It beat out rivals that included billionaire Vladimir Lisin and Globaltrans, Kommersant reported.

NefteTransService spokeswoman Natalya Drizhak confirmed that the company had signed an exclusive agreement to buy Evraztrans but said the sale had not yet been formally completed.

(Reuters)

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