Focus Companies

Moscow Mayor Sergei Sobyanin Makes Order Establishment Steps Towards City’s Railway Stations

Monday, May 23, 2011 at 9:00 am in Construction
Posted by Bill Pradi, Senior Analyst

Moscow mayor Sergei Sobyanin has forced his functionaries to rush up with the plan to lend the spaces around city’s railway stations to OAO “RZD” and put things into order there. He has promised city’s citizen to resolve dramatic situation by September of this year.

Agreement to lent those spaces to Russian Railways holding has been reached in April this year. On Friday, May 20, during the inspection of Moscow railway hubs Sobyanin stated that agreements has been signed. 

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75% stake in Freight One to be sold on auction this year

Tuesday, Apr 12, 2011 at 12:55 pm in Transport
Posted by Tim Berg, Analyst

Today, Kommersant reported preliminary terms for the sale of 75% of Freight One (100% owned by Russian Railways), subject to approval by Russian Railways' board of directors on 19 April.

Newspaper reported that the discussed stake of 75% in Freight One is to be sold through an auction. The preliminary valuation for the 75% stake is $4.5 billion, translating into $6 billion for 100% of equity and similar EV based on net debt of $24 million, as of end-2009. This is equivalent to a 2011E EV/EBITDA of 7-8, by our estimates – in line with Globaltrans current 7.7. 

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