Globaltrans Puts Up $540M For Russian Iron Ore Rail

Law360, New York (April 27, 2012, 3:15 PM EDT) -- Freight train operator Globaltrans Investment PLC said Friday it's buying up the rail arm of Metalloinvest, Russia's largest iron ore producer, in a $540 million deal that is the country's largest such transaction between a privately owned rail group and a natural resources company.

The takeover of LLC Metalloinvesttrans, which is formally being picked up by Globaltrans subsidiary OJSC New Forwarding Co., is being funded by a mix of existing funds and credit facilities. It also includes a three-year contract binding Globaltrans to keep providing freight...
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