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Globaltrans Woos MMK-Trans

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)

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