Antimonopoly Service Turns Down Brunswick Rail Acquisition
The Russian Federal Antimonopoly Service (FAS) put a ban on Brunswick Rail acquisition, the Kommersant reports.
The FAS reported that the company’s potential customer, Amalgam Rail Investments Ltd. registered at British Virgin Islands, is owned by Ilya Belyaev, who is also Member of the Board of Directors with SG-Trans operator company. The FAS believes that the people “affiliated with Amalgam might get an opportunity to unilaterally influence the terms and conditions of the freight car provision market”.
SG-Trans commented that Mr. Belyaev was not its shareholder, was invited as an independent director and left his position in October 2016.
Brunswick Rail is a freight car leasing company. Brunswick Rail owns 25,700 freight cars. The company is in a “tough financial situation” and trying to sell its controlling package since November 2016. In early February 2017 it reported that Amalgam would buy 100% of the company. The Kommersant’s sources were commenting that Amalgam was owned by Brunswick Rail General Director Vladimir Lepekov.
SG-Trans is a Russian rail operator for hydrocarbon gases and oil products.The company is co-owned by Alexey Taicher (GM with RZD-owned Federal Freight Company), Ruslan and Timur Babayevs (sons of RZD VP Salman Babayev) and State Duma Deputy Alexander Babakov.
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