VTB Bank and the shareholders of RTC Group have reached an agreement and signed binding documents on the acquisition of 50% plus 1 share in RTC by VTB.
RTC Group incorporates specialized rail operators Rusagrotrans (grain and other agri cargoes), Transles (timber and logs), Freight Company (rail tanks, gondola cars and platforms) and LP-trans (industrial and chemical cargo in hopper cars), regional rail operators Astyk Trans (Kazakhstan) and AzRusTrans (Azerbaijan), as well management consulting company RusTransCom.
The parties do not disclose the cost of the deal.
Previously, VTB acquired Novorossiysk Grain Terminal from Novorossiysk Commercial Sea Port and a share in another grain terminal, Novorossiysk Kombinat Khleboproduktov terminal (NKHP), as well as a share in United Grain Company.
Developing grain logistics infrastructure is a priority strategic goal of VTB, the bank said in a statement. In cooperation with RTC Group, VTB intends to continue developing other business segments, including timber and logs, mineral fertilizers and solid bulk transportation.