On June 2, VTE LLC acquired the industrial complex of the Petersburg Tram Mechanical Factory (PTMZ) in St. Petersburg at an auction for RUB 992 million, according to the Auction House of the Russian Federation which held the auction.
The starting price was RUB 827 million. The asset has been sold as part of the PTMZ insolvency proceedings.
Other bidders were Dominanta LLC and Govorova 35 LLC.
Four bids were made at the auction; as a result, the final auction price increased by RUB 165 million.