A1 buys stakes in Delovye Linii, DL Trans
MOSCOW. Dec 3 (Interfax) - A1, the investment arm of Russia's Alfa Group, has acquired 29% of shares in freight forwarding company LLC Delovye Linii and 50% of LLC DL Trans, a division of the Delovye Linii Group, from its co-founder Sergei Demidov, A1 said in a statement.
A1, which traditionally invests in "special situations" such as when there is a shareholder dispute at a company, did not disclose the terms of the deal.
Demidov confirmed to Interfax that he sold his stakes in the companies, but declined further comment. Asked about the purpose of the sale, he said it was to make money. "[My interest] is money. Everyone works for money," Demidov said.
A1 said the Delovye Linii Group is a leader in shipping package freight in Russia. "A1 sees Delovye Linii Group has an asset with potential to grow in value and will use the financial resources and corporate governance expertise at its disposal to increase the efficiency and capitalization of the group's business," the company said.
The SPARK-Interfax database shows that Demidov owned 29% of LLC Delovye Linii; Alexander Bogatikov owns 43% and Igor Bogatyrev owns 28%. Bogatikov owns the other 50% of DL Trans.
Delovye Linii ships freight by container truck, air and rail to more than 1,500 cities in Russia, as well as Kazakhstan and Belarus. The company's branch network of terminals and distribution centers in Russia includes 82 divisions.