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M&A: Train Service Alliance to buy 75% - 2 shares in Vagonremmash from RZD

JSC Russian Railways announced the result of the open tender with qualifying requirements to bidders for the right to purchase 75% less two shares in OJSC Vagonremmash, as stated by the press service of Russian Railways.

JSC Train Service Alliance was declared the winner. The final acquisition price was RUB 2.501 billion, the initial tender price being RUB 2.471 billion.

It will be recalled that the sale is pursuant to order 16-r of the Russian Government as of January 26, 2012 and the decision of Russian Railways' Board of Directors as of December 23, 2013. The tender organizer is VTB 24 (JSC).

OJSC Vagonremmash (tax number: 7722648033) is a subsidiary of JSC Russian Railways established in 2008 as part of the railway system's reform and assuming the assets of three car-repair plants in Voronezh, Novorossiysk, and Tambov. The company is engaged in the overhaul of passenger cars, repair and rearrangement of sets of wheels, production of spare parts.

JSC Russian Railways (tax number: 7708503727) was established on November 1, 2003 on the basis of the Ministry of Railway Communication. The state holds 100% of the company's shares which owns a railway system stretching ca. 85,500 km. The company's authorized capital is RUB 1.919 trillion.

IFRS net profit of Russian Railways for 2013 dropped 2.55 times to RUB 36.722 billion from RUB 93.685 billion the year before. Revenue increased by 14.45% to RUB 1.763 trillion from RUB 1.54 trillion, operating profit adjusted for budgetary subsidies decreased by 24.41% to RUB 122.991 billion from RUB 162.716 billion, pre-tax profit 2.33 times to RUB 59.976 billion from RUB 140.036 billion. EBITDA decreased by 6.57% to RUB 332.9 billion from RUB 356.3 billion.

RAS net loss of Russian Railways for Q1 2014 was RUB 10.239 billion against a profit of RUB 10.897 billion the year before. Revenue increased by 1.27% to RUB 342.934 billion from RUB 338.638 billion.

According to the DataCapital information retrieval system, RAS net profit of JSC Russian Railways for 9 months 2013 decreased 9.37-fold to RUB 4.258 billion from RUB 39.881 billion the year before. Revenue grew by 0.19% to RUB 1.022 trillion from RUB 1.02 trillion, sales profit decreased by 32.64% to RUB 62.476 billion from RUB 92.751 billion, pre-tax profit 3.24-fold to RUB 24.458 billion from RUB 79.242 billion.

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"AK&M", 07.05.2014 17:27


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