MOSCOW: State-owned monopoly Russian Railways has been given credit lines total totalling 50 billion roubles ($1.6 billion) by Sberbank, Russia's biggest bank.
Sberbank did not specify the purpose of the lines, saying on Friday the facilities had been opened "with the goal of managing the current liquidity".
Last month, French automaker Peugeot Citroen said it was in exclusive talks with Russian Railways to sell a 75 percent stake in its Gefco logistics division for 800 million euros ($1.05 billion).
Sources told Reuters earlier this month Russian Railways was likely to get financing for the deal through a loan from VTB , Russia's second-biggest bank.
Comments
Comments are closed.