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seen in 1H18. Bottom line came in at RUB9.8bn, the same as in 1H18. As reported bybne IntelliNews, in January Globaltrans confirmed plans to pay RUB16bn ($241mn) in 2018 dividends. The board now recommended a dividend payment of RUB8.3bn for 2H18, making a circa 6.7% yield at the current share price and foreign currency rates, Sberbank estimated. "In order to gradually increase dividends in the future, we believe the company should target a total payout of around RUB17bn during the calendar year 2019, which would mean an additional RUB48/GDR payment for 1H19 in the autumn," the bank wrote, expecting a total yield in 2019 of 13-14%.
Russian government reportedly outlined the rules for the sale of the controlling stake in Transcontainer container operator, Kommersant daily reported on April 8 citing the unpublished instructions to the largest shareholder of the company Russian Railways (RZD). Transcontainer is one of the most valuable transportation assets in Russia, on a market that saw a number of large deals in 2018. The sale of Trancontainer has been delayed several times in botched privatisation efforts. Now, reportedly, the government is ready to sell a 50% plus 2 shares stakes in the container operator to Russian citizen, not affiliated with federal or local authorities, not affiliated with maritime container operators, and either already having at least 20% stake in Transcontainer or controlling some other container terminal. 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. Last year maritime transportation major Fesco that controls Far East Sea Port terminal sold 25.07% in Transcontainer to state-controlled VTB Bank, also a largest creditor of the container operator. Fesco's largest shareholder with 32.5% is Summa Group of jailed Kremlin-connected oligarch and Ziyavudin Magomedov, who since his arrest in 2018 was pressured to sell a number of major transportation assets. Unconfirmed reports claimed that VTB Bank could re-sell the stake to strategic investors Roman Abramovich and Vladimir Lisin. Transcontainer, which controls over 45% of Russian rail container turnover, was spun off as an independent entity in 2006 as part of a structural reform aimed at developing a competitive market to replace the monopoly Russian Railways had previously held over all rail infrastructure and operations. TransContainer held an initial public offering in Moscow and London at $8 share in November 2010, raising about $400mn with Russian Railways selling a 35% stake. Its previous shareholders were European Bank for Reconstruction and Development (EBRD) and non-state pension fund Blagosostoyanie affiliated with RZD (NPF Welfare).
9.2.13 Other sector corporate news
The Russian government will spend RUB7bn ($106mn) in 2019–2021 to produce high-capacity gas turbines domestically, according to a statement released on March 28 and cited by Reuters and Prime. The government expects private sector to at least match the financing granted from the budget. The program plans to see at least 22 turbines produced domestically by 2032 under long-term service agreements. This month Russia launched two heat power plants in the annexed Crimea. The power plants are controlled by Tehnopromexport agency, a subsidiary of Rostec, which was embroiled in the sanction-busting scandal centred on gas turbines from engineering major Siemens being supplied to the sanctioned peninsula. Following the scandal, that nearly saw Siemens fined for breaking EU sanctions, the CEO of German technology major Siemens Joe Kaeser said he was considering pulling out of
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