Reuters: Mergers News: UPDATE 1-Freight firm buys $540 mln Metalloinvest unit

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UPDATE 1-Freight firm buys $540 mln Metalloinvest unit Apr 27th 2012, 06:43 Fri Apr 27, 2012 2:43am EDT * Will boost fleet of stock to around 60,000 * Will allow Metalloinvest to free up capital * Three year service deal included MOSCOW, April 27 (Reuters) - Russian freight company Globaltrans Investment is buying the railcar unit of iron ore miner Metalloinvest for $540 million, boosting its fleet to around 60,000 units. As part of the deal, Globaltrans will provide rail freight transportation and logistics services to Metalloinvest for three years. Selling the unit will allow Metalloinvest, controlled by Arsenal football club and Facebook shareholder Alisher Usmanov, to free up capital, the company's chief executive Eduard Potapov said. Globaltrans said its fleet of rolling stock was nearly 48,000 at the end of 2011, while Metalloinvest's fleet was more than 9,000 strong. The companies said the deal was the first large scale transaction between an independent private freight rail group and a large natural resources company in Russia. Link this Share this Digg this Email Reprints

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