OREANDA-NEWS. June 22, 2007. Russian Railways announced a tender on 20 April 2007, when the Board of Directors of the Company resolved to sell a 15% stake in its subsidiary TransKontainer. 12 banks were admitted to the tender, which was won by the investment banks UBS and the Troika Dialogue, who will now advise on the sale.

The sale of TransContainer shares, which should be completed during 2007, will be the first transaction carried out as part of the third stage in the reform of the Russian rail sector, which envisages selling stakes in subsidiaries of Russian Railways on the stock market.

TransContainer (www.trcont.ru) is wholly owned by Russian Railways and was established on the basis of the centre for shipping freight by container. Its management operations have been independent unit since July 2006.