21 Apr 2011 10:45

FESCO to bid at auction for 25% of TransContainer

MOSCOW. April 21 (Interfax) - Transportation group FESCO will be bidding at auction for 25% of OJSC Russian Railways (RZD) subsidiary OJSC TransContainer, FESCO President Sergei Generalov told reporters Thursday on the sidelines of a meeting of Russian Union of Industrialists and Entrepreneurs (RUIE) executives.

Generalov said he estimates the value of the blocking stake as "higher than the starting price," but did not say by how much.

FESCO already has stock in TransContainer - 12.5% it acquired during the company's IPO.