The French company Alstom, one of the world's largest manufacturers of railway rolling stock, has sold its shares in the CJSC Transmashholding (TMH), the largest manufacturer of locomotives and railway equipment in Russia.
This was reported by the CFTS portal citing the publication Kommersant.
According to the report, Alstom sold its shares to Russian shareholders at half price.
The Russians concluded the deal to buy back 20% of the shares in January. The amount involved was not disclosed. However, according to Kirill Lipa, CEO and co-owner of TMH, the shares were bought back "for half of their objective value" and the payment was made in rubles.
As reported previously, Alstom stopped all deliveries to Russia and suspended its planned investments after the launch of the Russian invasion of Ukraine. For example, Transmashholding stopped production of the EP20 electric passenger locomotives developed with Alstom.
In September 2022, in response to a question from the CFTS portal, Alstom said that it retained a 20% stake in Transmashholding. However, it added, "There is no commercial or operational relationship between Alstom and TMH, and there has not been for some time."
Accordingly, Alstom remained a "sleeper shareholder" of Transmashholding until the beginning of 2024.
