Timchenko to Buy Out 33% of Freight One Bidder, Kommersant Says

Billionaire energy trader Gennady Timchenko may acquire the 33 percent he doesn’t already own in Transoil, the company bidding for OAO Russian Railways’s cargo unit Freight One OJSC, Kommersant reported.

Timchenko may buy the stake from the main owners of Globaltrans Investment Plc in exchange for his 10 percent holding in Globaltrans’s Balttransservis rail cargo-carrier and as much as $330 million in cash, the Moscow-based daily reported, citing unidentified people.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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