MOSCOW Dec 14 Russian freight operator
Globaltrans Investment has won the right to buy
MMK-Trans, a subsidiary of Magnitogorsk Iron & Steel Works (MMK)
, the Kommersant daily said on Friday, citing several
MMK owns a 50 percent in MMK-Trans, while the rest is
controlled by Globatrans executives Sergei Maltsev and Alexander
Eliseev, who are also set to sell their stakes, the daily said.
It added that the deal may be worth around $300 million and
could be announced in the next two weeks. Globaltrans beat other
companies, including NefteTransService, for MMK-Trans, which
operates around 3,500 units of rolling stock.
Globaltrans is aiming to take advantage of continued
liberalisation in a Russian freight market previously dominated
by state-owned monopoly Russian Railways, and plans to continue
its expansion through acquisitions.
According to a recent presentation by the company, over 70
percent of the country's freight rail fleet is now privately
In April, the company agreed a deal to buy the railcar unit
of iron ore miner Metalloinvest for $540 million and in July
raised $520 million from a share sale to help to fund its