Globaltrans Investment PLC, as part of the asset sale transaction approved by shareholders on April 10, 2025, transferred 100% to BaltTransService LLC, GTI Management LLC, New Transportation Company JSC, Ural Wagon Repair Company JSC and Adaptive Capital Ltd. to the private company in favor of KSP Capital Asset Management LLC.", the Transatlantic Closed-end Mutual Investment Fund and assigned to the buyer all rights (including the right to claim and receive the principal amount of debt and accrued interest) under the intra-group loan agreements between the company and GTIM and between the company and Adeptive. This is stated in the company's message.
According to the terms of the asset sale, the buyer must pay the company a cumulative purchase price of $767 million, payable in Russian rubles, within 90 days from the closing date of the transaction.
As previously reported, the company intends to distribute all or almost all of the proceeds from the sale as special dividends. Any such distribution, including its amount and the relevant date on which the shareholders entitled to receive dividends are determined, depends on the decision of the company's board of Directors.
Globaltrans Investment PLC is a freight rail transportation group operating in the CIS countries. Globaltrans' net profit for 2024 increased by 2% to 39.4 billion rubles. compared to a year earlier. Adjusted revenue increased by 6% to 92.7 billion rubles, operating cash costs — by 11% to 38.8 billion rubles, adjusted EBITDA — by 3% to 53.9 billion rubles.
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