Ural Vagon Zavod Sells UVZ Logistic

8 February 2017 (13:27)

UrBC, Yekaterinburg, February 8, 2017. Ural Vagon Zavod Corporation intends to sell a 100% shareholding in its daughter enterprise UVZ Logistic to Blagosostoyaniye Non-State Retirement Fund; however, the freight forwarder’s fleet of vehicles will still get operated by Russian Railways’ Federal Freight Company (FGK), the corporation’s press service reports.

Ural Vagon Zavod had meant to find a customer before the end of last year; almost all the key railway freight forwarders on the market submitted their bids, with six bidders making it to the next round of the auction. The company did not select their customer at the auction, however, but decided instead to keep on negotiating on alternative terms and conditions with the potential buyers.

In the end, Ural Vagon Zavod and Blagosostoyaniye’s Trinfiko Property Management agreed that the latter would purchase a 100% stake in UVZ Logistic, Ural Vagon Zavod announced Tuesday.

The deal will go through once it has been approved by the Federal Antimonopoly Service.

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