RZD plans to sell stake in GEFCO

Managing Board of GEFCO, quoted by the Russian press, RZD plans to sell part of its stake in the company. The plan concerns a stake of approximately 15%, Vedomosti reported. Financial institutions from Russia, China, the Middle East and France were studying a possibility of investing in GEFCO, Luc Nadal said.

The Russian financial institution interested in GEFCO is the Russian Direct Investment Fund (RDIF).

The company’s value has grown since 2012, and selling part of the stake will give it a good opportunity to fix the current price. RZD acquired a 75% stake in GEFCO in 2012 for EUR 800 million from PSA Peugeot Citroen, which remains the owner of a 25% stake in the company, reported railwaypro.com.