The collaboration between Rosatom, Transmashholding (TMH), and Sergey Shishkarev's group did not materialize: TMH will not buy out the 49% of Delo Group of Companies owned by Rosatom. According to the Kommersant newspaper, the parties could not agree on the asset's value, and a decision was made to terminate the deal.
Delo Group of Companies is a major Russian transport and logistics holding specializing in sea and rail container transportation, grain transshipment, and multimodal cargo transportation. Its structure includes marine terminals (Baltic, Black, and Azov Seas, Far East), a network of railway and road terminals, as well as digital services for logistics.
Negotiations were held at a past meeting between Sergey Shishkarev, TMH CEO Kirill Lipa, and Rosatom's First Deputy Director General Kirill Komarov. Under last year's agreement, TMH had already bought 1% of the shares of UK Delo from Shishkarev, which will now be returned to the group's founder.
Earlier, Rosatom acquired 30% of the capital of Delo Group in 2019 for 29.9 billion rubles and increased its stake to 49% by 2022, exercising an option to buy an additional 19%.
The main reason for the deal falling through was the lack of agreement on the asset's valuation, which sources estimate to be at least 200 billion rubles. An additional factor was Rosatom's possible international partnership with port operator DP World (Dubai, UAE), which involves the sale of 50% minus one share of FESCO. This project creates an alternative international transport holding and shifts the state corporation's priorities.
