FESCO boosts TransContainer stake to 24.1%
MOSCOW. Nov 28 (Interfax) - FESCO Group has increased its stake in TransContainer to 24.1%, the company said in its IFRS financial statement for the first nine months of 2013 published on Thursday.
"In August 2013 the Group acquired 4,525 shares and 571,524 Global Depository Receipts (GDR) of TransContainer OJSC from a related party for the total cash consideration of $8.8 million," the statement says.
"In August 2013 the Group obtained additional $8.8 million under the REPO loan against 0.4% stake in TransContainer," it adds.
"The Group obtained a loan of $140 million structured through a number of linked forward and swap agreements with banks for its 23.67% share in OJSC TransContainer. Repayments are scheduled in four equal quarterly installments starting 12 months from the date of agreements," the statement says.