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  • Sales of shares of JSC “Russian Railways” subsidiaries and affiliated companies
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Sales of shares of JSC “Russian Railways” subsidiaries and affiliated companies

Major deals included: the sale of the remaning shares following JSC “Russian Railways” disposal of 25% shares of “First Freight Company” in favor of “Independent transport company” (gaining an entry into UCL Rail) for RUR 50 bln and the sale of 21.8% shares of Transkreditbank to the VTB Bank for RUR 22.1 bln.

At the end of 2012 JSC “Russian Railways” concluded the sale of 75% minus two shares of “Zheldorremmash” to "TMH Service“(a subsidiary of “TransMashHolding”) for RUR 7.9 bln.

Sales of shares of the subsidiaries and affiliates of JSC “Russian Railways” create conditions to develop competition in various segments of the railway traffic market and attract private capital.

Although such transactions reduce the revenue base of the Company, they increase funds to finance the investment program. All transactions are made in accordance with the instructions of the Government of Russia and its guidelines.

In 2012 the dividend income from the subsidiaries and affiliated companies amounted to RUR 9.8 bln. In 2012, RUR 9.1 bln were transferred from the account of “Russian Railways”. The remaining cash funds, amounting to RUR 0.7 bln, were transferred from the account in January 2013.

The amount of dividends received in 2012 is 40.6% of the actual income of the previous year due to the sale of shares of JSC “First Freight Company”. In 2011 the dividends received from the Company amounted to RUR 20.3 bln, and from the subsidiaires and affiliated companies RUR 2.1 bln.

With the sale of shares of JSC “First Freight Company”, the total amount of dividends from the subsidiaries and affiliates of JSC “Russian Railways” has increased by over four times compared with the previous year.