Last year, the European Bank for the Reconstruction and Development (EBRD) acquired for US$49.55M a 3.2% stake in Globaltrans Investment (GI) through the latter’s IPO on the London Stock Exchange - the first ever IPO for a private Russian rail freight operator and GI claims to be the biggest.
Before the IPO, GI was owned 70:30 respectively by Cyprus-registered Transportation Investments Holding Ltd (TIHL), Russia’s largest privately-owned transportation and infrastructure group trading under the N-Trans (ex-SeverStalTrans) name, and Envesta Investments Ltd (EIL), also registered in Cyprus, but owned by GI’s top managers. With 30.35% of GI’s equity sold in the IPO, TIHL’s and EIL’s stakes shrank to 50.1% and 19.55% respectively...
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This complete item is approximately 300 words in length, and appeared in the March 2009 issue of WorldCargo News, on page 15.
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