Russian railway operator UVZ Logistics, its lessors (Sberbank Leasing and Gazprombank Leasing) and Freight One (PGK) could form a joint venture into which UVZ Logistics will transfer its wagon fleet, according to “Vedomosti”. Freight One will own a 49% stake in the JV, while the leasing companies will hold a 51% stake. The new company will receive capital from its participants proportionally to their stakes.
The formation of the JV is only the intermediate stage of the transaction, the purpose of which is to repay UVZ Logistics’ debt owed to leasing companies. This phase will take three years, and eventually, it is expected that the UVZ Logistics’ fleet will be transferred under the ownership of Freight One.
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