Support The Moscow Times!

Transcontainer Shareholder Seeks Board Reshuffle

Rail group Transcontainer said its board would hold a shareholder meeting to consider a proposal by one shareholder calling for an overhaul of its board and for the election of new members.

The company, which handles half of all rail container transportation in Russia, did not identify the party that requested the meeting but said they held more than 10 percent of its stock.

A source close to Transcontainer said the request had come from transport group Fesco, which has a 23.7 percent stake, according to the company's website. Transcontainer's other large shareholder is state-owned Russian Railways, with 50 percent plus two shares.

The source did not say what had motivated Fesco's request. Fesco declined to comment.

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.