Page 94 - RusRPTOct19

supporting our view that May-June’s high single digit decline was a one-off caused by repairs at refineries. Overall, we expect the current trends to sustain in 2019, with sinking gondola rates and a growing oil tank market.
Russian Delo Group made a bid in the auction for 50% plus 2 shares in Transcontainer container operator, RIA Novosti reported on September 16 citing the company's announcement. The auction by Russian Railways (RZD) is scheduled for November 27 with a starting price of RUB36.16bn ($553mn). As reported by bne IntelliNews, this spring the Russian government outlined rules for the sale of controlling stake in Transcontainer, one of the most valuable transportation assets in Russia, on a market that saw a number of large deals in 2018. The Transcontainer deal has been delayed several times in botched privatisation efforts. Delo Group is controlled by Sergei Shishkarev, who previously showed interest in Transcontainer. In 2018 Delo had already carried out one of the largest deals in the transportation market buying 30.75% in leading container terminal operator Global Ports (GLPR). In 2018 Russian billionaires Roman Abramovich and Alexander Abramov already acquired 24.5% stake in Transcontainer from RZD and reportedly intended to seek a controlling stake in one of Russia's most valuable transportation assets. Enisey Capital affiliated with Abramovich and Abramov have already registered for the upcoming auction of the controlling stake in Transcontainer. Other potential bidders include First Cargo Company of Vladimir Lisin and Russian Direct Investment Fund (RDIF).
94 RUSSIA Country Report October 2019 ww.intellinews.com