Russian Railways has sold 100% minus one share of its stake in Wagon Repair Company-3 (VRK-3).
Organised by VTB Bank, the open auction was carried out in accordance with the decision of the board of directors as part of the sale of non-core assets of the company.
The auction started with a price of RUB 7 billion (USD 109 million). Business Optima is the winner, submitting an offer of RUB 8.65 billion (USD 134.68 million).
VRK-3 is one of RZD’s three subsidiaries established as a result of RZD initiative to restructure the railcar maintenance industry. All these three companies performed more than half of all railcar repair activities in Russia.
Under the reform programme, VRK-3 owns 39 facilities with a capacity to perform repair activities for 100,000 wagons annually. The company specialises in in scheduled repairs and supply of spare parts to the operational depots. The main activities are overhaul and maintenance, washing and painting and the sale of various components and spare parts.