According to Luc Nadal, chairman of the Managing Board of GEFCO, quoted by the Russian press, RZD plans to sell part of its stake in the company. The plan concerns a stake of approximately 15%, Vedomosti reported. Financial institutions from Russia, China, the Middle East and France were studying a possibility of investing in GEFCO, Luc Nadal said. The Russian financial institution interested in GEFCO is the Russian Direct Investment Fund (RDIF).
The company’s value has grown since 2012, and selling part of the stake will give it a good opportunity to fix the current price. RZD acquired a 75% stake in GEFCO in 2012 for EUR 800 million from PSA Peugeot Citroen, which remains the owner of a 25% stake in the company.
GEFCO is interested in expanding both in Russia, and internationally. In Russia, the company is interested in assets engaged in logistics of cars, and providing services of transportation of new or second-hand cars for the Russian market. GEFCO may spend on acquisitions between EUR 12.6 million and EUR 400 million.