Freight One to Sell Transoil 10,000 Cisterns, Kommersant Says

OAO Freight One, Russia’s largest rail operator, is planning to sell 10,000 oil and oil-product cisterns to OOO Transoil in a transaction worth as much as $500 million, Kommersant reported, citing three unidentified people with knowledge of the matter.

Transoil, owned by billionaire Gennady Timchenko, owns about 15,000 cisterns and rents an equal number, while Freight One owns 66,000 cisterns, the newspaper said, adding that the agreement might be signed by the end of the month.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

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