Freight operator Globaltrans said Monday that it is in exclusive talks over potential acquisition of MMK-Trans, a subsidiary of steelmaker MMK.
"The potential acquisition of MMK-Trans is consistent with the group's strategy to seek out growth both organically and by means of selective acquisition," the company said.
It added it was also negotiating a long-term contract for the transportation of MMK's freight rail volumes. The company provided no financial details of the deal.
Kommersant reported last week Globaltrans could buy MMK-Trans for about $300 million. (Reuters)