FAS approves Train Service Alliance's acquisition of 75% of Vagonremmash from RZD
MOSCOW. May 7 (Interfax) - Russia's Federal Anti-Monopoly Service (FAS) has approved CJSC Train Service Alliance's acquisition of 75% minus two shares of OJSC Vagonremmash from Russian Railways (RZD) , the service said in a statement.
The request for the acquisition was submitted on April 7, the FAS said. "The deal will not limit competition," the statement says.
RZD chose Train Service Alliance as the buyer of the 75% stake minus two shares in Vagonremmash at the end of April. The company offered 2.501 billion rubles for the asset, while the starting price was 2.47 billion rubles.
Train Service Alliance manages projects for the repair and technical servicing of rolling stock to raise efficiency. According to the Uniform State Register of Legal Entities (USRLE), 70% of the company belonged to LLC BMI Group as of January 10, 2014, while 15% belonged to Ivan Gorokhov and 15% to Edward Sarmatov. Additionally, 70% of BMI Group was owned by LLC Ekstraoptim, while general director Gennady Moryev owned 10% as of September 2010. Ekstraoptim is a 100% subsidiary of CJSC RusBiznesProekt, 90% of which belonged to Andrei Severilov and 10% to Natalia Morozova in 2012.
According to the Federal State Statistics Service (Rosstat), 99% of Train Service Alliance belongs to CJSC Wagon-Service (Moscow), and 1% to an unnamed Russian citizen. Additionally, 100% of Wagon-Service belonged to LLC Prominvest as of 2012, though Morozova was listed as the owner of 0.05% stake in 2014. Cyprus-based Midlake Holdings Limited owns 99% of Prominvest.
Wagon-Service is a company that builds, modernizes and reconstructs train-washing complexes for OJSC Federal Passenger Company, and RZD subsidiary. Additionally, the company specialized in servicing railway rolling stock, specifically body repair for railcars before and during painting.
Vagonremmash was created from three railcar repair factories in Voronezh, Novorossiysk and Tambov, and fully repairs passenger railcars. RZD currently owns 100% of company shares.