The Russian Federal Anti-Trust agency has allowed TransContainer to acquire 100% in Logistika Terminal, a ‘dry port’ asset of Global Ports in St. Petersburg.
The parties announced the proposed deal in August last year, however, in December the Anti-Trust Service published its decision to block the deal on that grounds that is ‘may lead to limiting competition in the market of rail container transportation to the Big Port of St. Petersburg’.
Now the Anti-Trust Service has agreed with the arguments presented by TransContainer during the court proceedings, and granted the company a permission to buy the asset.
According to Viktor Markov, Deputy CEO of TransContainer, the deal is expected to be closed by the end of 2018.
He added that the final price is subject of discussion between the seller and the buyer.
Last year, the parties said the deal would cost 1.9 bn rubles.