OREANDA-NEWS. November 09, 2012. An open competition was held in Moscow for 75% minus 2 shares of Zheldormash, a subsidiary of Russian Railways, reported the press-centre of Russian Railways. 

The competition, whose rules included eligibility requirements for bidders, was held in accordance with Decree No. 17-r issued by the Government of the Russian Federation on 26 January 2012.

The auction was organised by Open Joint Stock Company TransCreditBank. After reviewing the bids, Open Joint Stock Company Lyudinovsky Diesel Locomotive Manufacturing Plant and TMX-Service Ltd were admitted to the auction.

Bidding for the Zheldorremmash stake began at a starting price of 7.900 billion roubles.

The auction was won by TMX-Service, which offered 7.915 billion roubles.