Globaltrans Denies Report on Merger Talks

Rail freight operator Globaltrans denied Sunday that it was in merger talks with NefteTransService, Interfax reported.
Industry sources said Friday that Globaltrans and NefteTransService were in talks on a merger that would create a business with sales of $2.7 billion and a 10 percent share of the Russian market.
“They started [talks] several months ago and have been unable to agree on pricing terms so far,” one source said, while a second source said the talks had become more active lately.
A third said London-listed Globaltrans, which has a strategy to grow both via acquisitions and organically, was likely to acquire NefteTransService, which is controlled by brothers Vyacheslav and Vadim Aminov and company management.
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