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Transoil Agrees to Buy 10,000 Rail Cisterns From Freight One

Aug. 10 (Bloomberg) -- OOO Transoil, owned by billionaire Gennady Timchenko, reached an agreement to buy 10,000 crude and oil-product rail cisterns from OAO Freight One.

The deal will increase Transoil’s rail fleet by 70 percent to 25,000 cars, the St. Petersburg-based company said in an e-mailed statement.

The value of the deal may be as high as $500 million, Kommersant newspaper reported on May 14. Andrei Romashkin, Transoil’s spokesman, and Freight One spokeswoman Elena Timofeeva in Moscow declined to comment on the price.

Billionaire Vladimir Lisin’s UCL Holding owns Freight One.

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

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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