Transmashholding’s press service confirmed the successful completion of the deal, transferring 20% of the company’s shares to Russian shareholders, this is reported by the railway transport news portal Railway Supply.

Alstom has completed the sale of its stake in the Russian company AO Transmashholding

This move allows Transmashholding to re-register its legal entity from Cyprus to Russia.

Kirill Lipa, the CEO of AO Transmashholding, emphasized that the re-registration is planned to take place in March-April of this year.

Sanctions list of Russian manufacturers of railway products

He also stated that all Alstom shares were purchased by Russian shareholders at half of their fair value.

According to Alstom’s report for the third quarter of the 2023/2024 financial year, the deal was valued at €75 million.

However, the French company incurred a loss of €127 million from the sale of its stake in the Russian company.

It is worth reminding that Transmashholding is listed in sanction lists.

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