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Billionaire Lisin May Replace Freight One CEO, Kommersant Says

Dec. 19 (Bloomberg) -- Billionaire Vladimir Lisin, who agreed to pay $4 billion for 75 percent of OAO Freight One in October, may replace the company’s chief executive officer once the deal is completed, Kommersant reported.

Alexander Sapronov, head of Lisin’s Independent Transportation Co., may become the new CEO, the Moscow-based newspaper said, citing people it didn’t identify.

Freight One may also lease part of its cistern fleet to billionaire Gennady Timchenko, who competed with Lisin in Freight One’s privatization, Kommersant said. Nobody in the press office of UCL Holding, which holds Lisin’s transportation assets, could be reached immediately when Bloomberg called before normal business hours seeking comment.

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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