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Globaltrans Investment PLC Completes Acquisition Of 100% Of MMK-Trans


Wednesday, 13 Feb 2013 02:00am EST 

Globaltrans Investment PLC (Globaltrans or the Company, and together with its consolidated subsidiaries, the Group) announced that it has completed the acquisition of 100% of OOO MMK-Trans (MMK-Trans) for a cash consideration of USD 250 million and assuming net debt and working capital of approximately USD 84.5 million. MMK-Trans was formerly the captive freight rail operator of MMK Group. The transaction was announced on 19 December 2012. MMK-Trans principally handles cargoes of the MMK Group, primarily metallurgical cargoes and coal. As part of the transaction, Globaltrans entered into a five-year contract guaranteed by MMK Group to supply it with rail transportation services for at least 70% of MMK's rail cargo flows. The contract will become effective from 1 March 2013. 

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8.4
-0.05 -0.59%
30 Sep 2014