Kazakh businessman Itemgenov aims to increase Globaltrans stake to 31.6%
MOSCOW. Jan 15 (Interfax) - Kazakhstan's Aqniet Capital LLC, whose beneficiary is businessman Kairat Itemgenov, bought out the shares of three main shareholders of Globaltrans Investment PLC, Nikita Mishin (100% Onyx Investments Ltd), Konstantin Nikolaev (100% Mapple Valley Investments Ltd) and Sergei Maltsev (100% of Goldriver Resources Ltd), and now indirectly owns 26.19% of the company's issued share capital, Globaltrans reported.
Aqniet has also signed binding agreements to acquire the entire interest of another company co-founder, Alexander Eliseev (100% of Litten Investments Ltd), and the interest of an unrelated shareholder. Until these transactions close, expected no later than the second half of 2024, Aqniet will hold economic rights to the shares and GDRs involved in the transactions and a notarized power of attorney in respect of 4.45% of the company's voting shares.
As a result, until the transactions are closed, Aqniet, owner of 26.19% of the issued share capital, controls 30.65% of the voting shares. Following the closing of the transactions, Aqniet will own 31.62% of the capital and voting shares of Globaltrans.
Sergey Maltsev, currently chairman of the board of directors, said that after the sale of his stake he intends to remain with Globaltrans and be nominated to the board of directors once redomiciliation to the Abu Dhabi Global Market free economic zone is complete, the company said.
"Investing in the Russian economy, including the transportation sector, is a key area of my work. I do not and never have planned to leave the Globaltrans business. This is a high-quality and promising asset. I am confident that the arrival of a new shareholder will continue to strengthen the company's position in the Russian market for railway transportation," the press service quoted Andrei Filatov, Globaltrans founder and shareholder, as saying about the deal.
The current shareholder structure of Globaltrans:
56.2% free-float
26.2% Aqniet Capital LLP
11.5% Marigold Investments Ltd (beneficiary - Andrey Filatov, co-founder)
5.1% Litten Investments Ltd (beneficiary - Alexander Eliseev, non-executive director and co-founder)
0.9% Transportation Investments Management Ltd (beneficiaries - Andrey Filatov, Nikita Mishin and Konstantin Nikolaev, co-founders)
0.1% under control of directors and management
Globaltrans specializes in the rail transportation of metallurgical cargo, petroleum products, construction materials and coal. The company was founded in 2004 by a group of like-minded entrepreneurs who united their freight rail transportation businesses under the Globaltrans brand. The company's fleet as of the end of June 2023 included about 66,000 units of rolling stock, 94% of which is company-owned.