Russian govt approves sale plans for RZD subsidiary Refservice
MOSCOW. March 30 (Interfax) - The Russian government has approved plans to sell 100% minus one share in Russian Railways (RZD) refrigerated freight subsidiary OJSC Refservice at a public auction.
Russian Prime Minister Vladimir Putin signed the order on the sale on March 24.
Refservice will be sold for at least its market price, which will be determined by an independent valuation.
The government also approved a proposal by the Economic Development Ministry and Transport Ministry to sell 25% minus one share in OJSC Roszheldorproyekt, which performs design and surveying for the construction and renovation of railway facilities.
Stakes of 100% minus one share in railcar maintenance depots in Saransk, Vladikavkaz, Roslavl, Volgograd and Barnaul, the Ishimsky and Altai mechanical works and TransWood Service, RZD's main rail tie supplier, may also be sold.
The RZD board approved plans to sell Refservice and Roszheldorproyekt in April 2010. It planned to sell all of its shares in the latter. The company planned to sell Refservice last year but did not in the end announce an auction.
Refservice operates 6,600 refrigerator cars, three repair depots and two operating floors. It has been transporting perishable goods since May 1, 2006 and is this market's biggest operator with around 30%.