Summa becomes majority stakeholder in FESCO

Summa will make an offer to minor shareholders in transportation group FESCO after agreeing to buy the 56% controlling stake of businessman Sergei Generalov.
Summa has already secured a stake of about 15% in FESCO and is in talks with the European Bank for Reconstruction and Development about buying its 3.74% stake in FESCO. Also, the company has eyes on a 7% stake owned by Swedish fund manager East Capital.
FESCO’s asset portfolio includes 21% of state-controlled rail group Transcontainer to be privatised by the Russian Government.
Source: www.themoscowtimes.com