print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Financial Corporation "Sistema" REGISTER LOG IN

Press Releases > Financial Corporation "Sistema"  all about the company

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

August 31, 2016

Sistema divests 50% stake in SG-Trans

Moscow, Russia– August 31, 2016. Sistema PJSFC (“Sistema” or “the Corporation”") (LSE: SSA; MOEX: AFKS), a Russian public diversified holding company, has completed a transaction to sell a 50% equity stake in JSC SG-trans to a group of unaffiliated buyers for RUB 6 billion. The Corporation will maintain ownership of a number of assets previously spun out of JSC SG-trans, including JSC SG-trading and real-estate assets.

Mikhail Shamolin, President and Chief Executive Officer of Sistema, said: “Sistema and its partners have transformed SG-trans into one of Russia’s leading rail freight operators, with an effective and sustainable business model. Despite the challenges faced by the Russian economy and transportation sector in recent years, SG-trans has been a profitable investment for the Corporation. This transaction is proof of our ability to successfully turn around and monetise businesses, supporting growth of the Corporation’s shareholder value.”

Sistema acquired SG-trans in November 2012. After reorganising the Corporation’s transportation assets and bringing in additional investors, Sistema held a 50% stake in SG-trans. Non-core assets were divested from SG-trans Group.

                                                                                ***

For further information, please visit www.sistema.ru or contact: 

IR department

Yuri Krebs

Tel.: +7 (495) 730 66 00

y.krebs@sistema.ru

Press service

Sergei Kopytov

Tel.: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer