The first cargo company is being taken over by VTB. This is reported by the Kommersant newspaper, citing sources in the market. According to Kommersant, a change of the company's CEO is expected in the near future.
At the end of 2023, PGK transferred from Vladimir Lisin's structures to Aurora Invest, a company associated with Timur and Ruslan Babaev.
VTB has a PGK carriage fleet as collateral, which ensures the long-term obligations of its parent structure. According to Kommersant's sources, this outcome is motivated by dissatisfaction on the part of VTB, in particular, with the results of last year's deal to acquire PGK. Now the interlocutors of Kommersant foresee a possible consolidation of operator companies on the basis of PGK and the creation of a super-large player.
The first cargo company before the sale belonged to the Cyprus offshore Fletcher Group Holdings Limited.
The First Freight Company (PGK) is a major operator of railway transportation in Russia. The company provides a full range of cargo transportation services. PGK transports goods both in Russia and abroad within the 1520 gauge.
VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. VTB Bank is the parent structure of the VTB Group, which includes subsidiaries and international banks, as well as other financial organizations.
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