RZD, Kazakhstan Temir Zholy and Belarusian Railway, the shareholders of JV United Transportation and Logistics Company (UTLC), agreed to reorganise the company and separate from it the stakes in TransContainer contributed to the JV by RZD in 2014. RZD contributed to UTLC the 50% + 2 shares in TransContainer and 100% minus one share in RZD-Logistics, and received a 99.84% stake in the joint venture, while BRzD and KTZ owned a 0.08% stake each.
Following the reorganization, a new entity, AO OTLK ERA, will be created, in which each of the three companies (RZD, KTZ, BRzD) will own a 33.33% stake. The above company will be established under an asset-light model, with equal ownership. In addition, as a result of the reorganization, a number of subsidiaries of RZD will be established, which will own the assets of the company previously contributing to the authorized capital of UTLK, including a company that will own a 50% +2 shake in TransContainer.
The Russian government had agreed in principle to a plan under which the controlling stake of TransContainer should be sold to investors.
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