TMH acquisition of Delo Group stake expected to create transport and logistics multinational - Shishkarev

MOSCOW. Jan 17 (Interfax) - The deal between Transmashholding (TMH), Rosatom Group and Delo Group to merge their logistics assets could potentially create an international transport and logistics conglomerate, Delo Group founder and chairman Sergei Shishkarev said.

"We have indeed made a decision. Perhaps a very unexpected one, but in my view very logical. I'm one of the proponents and authors of this construct. It seems to me that the time has come for market leaders to unite. In this case, state corporation Rosatom as our main partner, Transmashholding, the leading corporation on the engineering and rolling stock manufacturing market, and the largest logistics holding, which is Delo Group. We see many synergies here," Shishkarev said in an interview with TV channel Rossiya 24 on Friday.

"We see an opportunity to build a genuine conglomerate of companies that will be the leader not only in the post-Soviet space," he said, adding that with the development of its railway and port components and more substantial fleet expansion the company can be brought to a level where "we will become the world's leading transport and logistics infrastructure corporation."

"We want to become one of the top ten by revenue, by EBITDA, by number of transport units that we operate. All the prerequisites for this exist," Shishkarev said.

It was reported earlier that Rosatom, Shishkarev and TMH have agreed to consolidate their logistics assets and form a joint company. In the initial stage, TMH will buy 1% of Delo Group from Shishkarev, reducing his stake to 50%, while Rosatom will retain a 49% stake in the group. By the end of 2025, they plan to close the deal to combine all their logistics assets, and determine a business model and governance system for the future company.

At the end of December 2024, Shishkarev's stake in Delo Group dropped from 51% to 50%, as R-Alyans LLC became the owner of 1%. JSC Atomenergoprom (AEP), a division of Rosatom, retained 49%.

"I remain and will remain a 50% equal partner," Shishkarev said on Friday.

He also recalled that the company's shareholders approved a new CEO at the end of December. "The proposal [of the candidate] came from Transmashholding. I met with Alexei Lebedev, held negotiations with him for hours and subsequently submitted his candidacy myself for the approval and support of the shareholders," Shishkarev said.

He said Delo Group shareholders will hold a meeting on January 22 to elect a new board of directors. "The board of directors will include representatives of Rosatom and Pyotr Ivanov, who today became head of [Rosatom's] transport division and heads Fesco Group. For my part, I'm proposing my own candidates, remain chairman of the board of directors, will head the strategy committee in future," Shishkarev said.

A new management team is now being formed and there are plans to organize commercial functions, merge a number of assets and optimize operations in certain areas, he said. The company has plans to build hubs abroad that will be connected by its own fleet and enter the deep sea international container shipping market.

"I think that within six months we will clarify the company's development track to 2030-2035 and reach all the set goals with this new management team," Shishkarev said.